Bearish potential detected for SDF

Entry conditions:
(i) lower share price for along with swing of DMI indicator towards bearishness and RSI downwards, and
(ii) observing market reaction around the share price of $5.89 (open of 20th June).

Stop loss for the trade would be:
(i) above the potential prior resistance of $6.08 from the open of 4th December 2024, or
(i) above the potential prior resistance of $6.19 from the open of 3rd July 2024, depending on risk tolerance.

交易开始

UPDATE (week ending 25-Jul): Trade activated on 25th July with a swing of the DMI indicator towards bearishness and downward swing of the RSI indicator, whilst the share price respected the prior support level of $5.89 from the open of 20th June to the downside. The share price closed below both 10 and 30 day MA's at the end of the trading week.

注释

UPDATE (week ending 01-Aug): Fairly aimless drifting in the share price this week, however most of the share price action remained above recent support (i.e.: above the open of $5.89 formed on the 20th June), with the share price closing between 10 and 30 day MA's at the end of the trading week. Continue to observe market reaction at this support level.

注释

UPDATE (week ending 08-Aug): Share price appears to have undergone another false breakout similar to that of end-June (requires confirmation next week), which is currently testing the stop loss area of this trade. Share price closed above the 10 and 30 day MA's at the end of the trading week. Observe market reaction at the resistance area in the context of upcoming earnings release at the end of this month (29th August).

交易结束：到达止损

UPDATE (week ending 15-Aug): Stop loss was triggered on 15th August, so it is suggested that this short position in SDF be covered in order to preserve capital and move on to the next trade.

Ivory_Wolf

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Ivory_Wolf

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