Technical Analysis
We have a breakout on strong intraday volume (200% above 10-day average).
RSI 67 - still not overbought.
OBV has been supportive.
Because we are in a longer down-trend, we will see multiple resistance; which will very helpful to set your limits.
Risk reward ratio is great, using $32.3 as stop-limit loss, and $39 as a sell-exit.
Be careful of a fake break-out, as this is only the 1st day.
Fundamental Analysis
One of the infrastructure plays with expected fiscal stimulus, could be steel.
As price is king, it tells a more accurate story of what market makers think of the upcoming events.
We have a breakout on strong intraday volume (200% above 10-day average).
RSI 67 - still not overbought.
OBV has been supportive.
Because we are in a longer down-trend, we will see multiple resistance; which will very helpful to set your limits.
Risk reward ratio is great, using $32.3 as stop-limit loss, and $39 as a sell-exit.
Be careful of a fake break-out, as this is only the 1st day.
Fundamental Analysis
One of the infrastructure plays with expected fiscal stimulus, could be steel.
As price is king, it tells a more accurate story of what market makers think of the upcoming events.
Nota
made a failed breakout to re-test the 50sma.Breakout level was made again; since then its increased 17%
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.