Currently looking at a long term (weekly) downtrend vs a shorter term uptrend (daily)
- Hitting daily support at $45
- Hitting lower daily bollinger band
- Somewhat negative signal on RSI, but nothing confirmative
- No earnings or dividends for 2 months - price will be more affected by technicals during this timeframe
2 trade possibilities
1. if long term downtrend holds (price moves down), and short term uptrend breaks, could be a good short play
2. if long term downtrend breaks (price moves up), and a bounce off current support, it will be a strong buy, as breaking a longer trend is a stronger indicator than breaking a shorter trend
Watching today until Friday to see if current level of support holds - if it doesn't move down sharply or break support and daily up trend, I'll probably buy between 45-46 with a 2.5/1 RR.
Good luck!
- Hitting daily support at $45
- Hitting lower daily bollinger band
- Somewhat negative signal on RSI, but nothing confirmative
- No earnings or dividends for 2 months - price will be more affected by technicals during this timeframe
2 trade possibilities
1. if long term downtrend holds (price moves down), and short term uptrend breaks, could be a good short play
2. if long term downtrend breaks (price moves up), and a bounce off current support, it will be a strong buy, as breaking a longer trend is a stronger indicator than breaking a shorter trend
Watching today until Friday to see if current level of support holds - if it doesn't move down sharply or break support and daily up trend, I'll probably buy between 45-46 with a 2.5/1 RR.
Good luck!
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.