Disclaimer: this is not an advisory note, it is but an idea that I have come up with. Please give me feedback on how to make better graphs!
Hi traders,
I think DSM will breakout in the near future, because of the wedge, and the long-term trend to which it has returned multiple times over the past years. The stock has been relatively stable overtime, and has been bouncing of the horizontal support line, shown in the picture for some time now. I believe that due to the downward wedge, the price will breakout soon. The RSI also indicates that the stock is oversold, which would normally result into a rapid price increase of the stock.
Let me now what you think, and good luck out there!
Hi traders,
I think DSM will breakout in the near future, because of the wedge, and the long-term trend to which it has returned multiple times over the past years. The stock has been relatively stable overtime, and has been bouncing of the horizontal support line, shown in the picture for some time now. I believe that due to the downward wedge, the price will breakout soon. The RSI also indicates that the stock is oversold, which would normally result into a rapid price increase of the stock.
Let me now what you think, and good luck out there!