Technically
1) before the incident the stock traded on the upper end of the 10y old trend channel
2) There is a RSI divergence on weekly chart.
Drop has been inevitable, but triggered from the sad news.
It filled just 20-25% of the channel width, which means there is a room for more drops. Investigations just started and they can be very long.
The industry is slow and heavily regulated.
This stock is SHORT for at least 2-3 months. Long term (2-3 YRS) it is a good company with very long history and LONG position can become very attractive at $230-240. This is quite aggressive is it constitutes 45% drop.
This level is at 1.618 Fib level of the C Elliott wave started 02-2018 and can be expected as early as August - September 2019
Goodluck and trade with care.
1) before the incident the stock traded on the upper end of the 10y old trend channel
2) There is a RSI divergence on weekly chart.
Drop has been inevitable, but triggered from the sad news.
It filled just 20-25% of the channel width, which means there is a room for more drops. Investigations just started and they can be very long.
The industry is slow and heavily regulated.
This stock is SHORT for at least 2-3 months. Long term (2-3 YRS) it is a good company with very long history and LONG position can become very attractive at $230-240. This is quite aggressive is it constitutes 45% drop.
This level is at 1.618 Fib level of the C Elliott wave started 02-2018 and can be expected as early as August - September 2019
Goodluck and trade with care.
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.