UXIN is currently at the ideal buy point:
-Stock broke out of desc. triangle, has subsequently pulled back to downtrend resistance that has been turned to support, trendline was tested 4 times
-Support on top of downtrend is also the bottom of the right shoulder, right shoulder formation has been accompanied by increased volume
-Most recent trading day 6/19, stock reclaimed 5 day EMA, closing above it after rebounding off the downward trendline support
I'd feel confident buying it here against the trendline support of the desc. triangle. I like 1/2 position here and 1/2 position after clearing the 50 EMA.
-Stock broke out of desc. triangle, has subsequently pulled back to downtrend resistance that has been turned to support, trendline was tested 4 times
-Support on top of downtrend is also the bottom of the right shoulder, right shoulder formation has been accompanied by increased volume
-Most recent trading day 6/19, stock reclaimed 5 day EMA, closing above it after rebounding off the downward trendline support
I'd feel confident buying it here against the trendline support of the desc. triangle. I like 1/2 position here and 1/2 position after clearing the 50 EMA.