Panjang
New Channel and bounce off support
On a very rough day this seemed to be better than it could have been, closing at strong support of ~$30. Everyone seems to identify $30 +/- .40 as support, price-wise and as a psychological level. We also tested the 50 SMA on the daily as shown.
I entered a long trade after ER and picked some more up today with an average cost of $32 now.
Considering how rough today was with the overall market drop, I don't think it's unreasonable to view today's low as the bottom of an ascending channel on the daily. At some point there's a trading day that creates the bottom of the channel, and I think today could be that day.
This isn't advice; I'm interested in knowing what your thoughts are for some active discussion. I see some other ideas about an inverted head and shoulders, or a very large cup and handle, but why either of those as opposed to this channel?
I entered a long trade after ER and picked some more up today with an average cost of $32 now.
Considering how rough today was with the overall market drop, I don't think it's unreasonable to view today's low as the bottom of an ascending channel on the daily. At some point there's a trading day that creates the bottom of the channel, and I think today could be that day.
This isn't advice; I'm interested in knowing what your thoughts are for some active discussion. I see some other ideas about an inverted head and shoulders, or a very large cup and handle, but why either of those as opposed to this channel?
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.