ADM has tested the 44.99 mark two times and fell back. It is trading in a triangle formation. This is a set up I love for long options trades.
The price is supported by the following:
1) The moving average
2) RSI is in the 60% area. I am okay with it as long as it stays over 50%. I would start to worry if I was in the trade and it drops.
3) The MACD shows stability. Still some buying power.
It had just now tested the top a 2nd time (to form a double top) I would personally wait to see if it goes back to the support at the bottom of the channel and then reverses for better confirmation and a more favourable options contract.
The price is supported by the following:
1) The moving average
2) RSI is in the 60% area. I am okay with it as long as it stays over 50%. I would start to worry if I was in the trade and it drops.
3) The MACD shows stability. Still some buying power.
It had just now tested the top a 2nd time (to form a double top) I would personally wait to see if it goes back to the support at the bottom of the channel and then reverses for better confirmation and a more favourable options contract.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.