I'm watching Canada Goose for a bounce after being absolutely crushed today on its highest volume day ever. Hourly RSI fell in one straight shot from overbought to oversold, I have swung a small position and will add into weakness if things get more extreme tomorrow. I haven't fully identified profit targets yet but I do have a trendline I would look for price to eventually bounce back towards.
To get the bounce underway bulls will need to break three resistances in quick succession: 69.49, 69.56, and 69.71 - there's a clear zone of resistance here in the upper mid $69 range. A clear break of $70 on good volume would give the bulls some confidence.
I didn't mention this in the video, but one thing I will be watching for are bear flags...if we get weak bounces on low volume that don't move the price much but cool off hourly RSI levels I would look to exit my position for small profit and look for another setup to re-enter to play this bounce.
To get the bounce underway bulls will need to break three resistances in quick succession: 69.49, 69.56, and 69.71 - there's a clear zone of resistance here in the upper mid $69 range. A clear break of $70 on good volume would give the bulls some confidence.
I didn't mention this in the video, but one thing I will be watching for are bear flags...if we get weak bounces on low volume that don't move the price much but cool off hourly RSI levels I would look to exit my position for small profit and look for another setup to re-enter to play this bounce.
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.