USING HEIKIN-ASHI CANDLES on the DAILY CHART
- Heavy selloff after earnings on December 8, 2022 - changing short-term technical sentiment from bullish to bearish, and long-term technical sentiment from bullish to neutral.
- Broke below key trendline on December 14, 2022 with bearish signal courtesy of Lux Algo.
- Dipped and closed below Trend Regularity Adaptive Moving Average Line [TRAMA] - a.k.a. the yellow line in the chart screenshot - with force on December 19, 2022 - changing short-term technical sentiment from bearish to very bearish, and long-term technical sentiment from neutral to bearish.
- Relative Strength Index [RSI] close to convergence at 40%, which could act as additional resistance.
- Double Top rejection below the Trend Regularity Adaptive Moving Average Line [TRAMA], which provided a strong confirmation for short trade entry and stop loss (above TRAMA line at $321).
Exit target for profit-taking:
- $300 (whole number general buyer reaction anticipated)
- $277.5 (current swing low)
- Heavy selloff after earnings on December 8, 2022 - changing short-term technical sentiment from bullish to bearish, and long-term technical sentiment from bullish to neutral.
- Broke below key trendline on December 14, 2022 with bearish signal courtesy of Lux Algo.
- Dipped and closed below Trend Regularity Adaptive Moving Average Line [TRAMA] - a.k.a. the yellow line in the chart screenshot - with force on December 19, 2022 - changing short-term technical sentiment from bearish to very bearish, and long-term technical sentiment from neutral to bearish.
- Relative Strength Index [RSI] close to convergence at 40%, which could act as additional resistance.
- Double Top rejection below the Trend Regularity Adaptive Moving Average Line [TRAMA], which provided a strong confirmation for short trade entry and stop loss (above TRAMA line at $321).
Exit target for profit-taking:
- $300 (whole number general buyer reaction anticipated)
- $277.5 (current swing low)
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.