If we watch this ticker where it is, it is practically in no man's land. We know it is in a down trend but the question is this, will this be the bottom for a reversal.
We are wedging here but if you are not careful you would think that this is the time to jump in the stock.
DON'T!!!
Get a break out above or a rejection before you commit.
So lets put it into perspective.
Bullish case: This is the level needed. Yes it is far from the break of the trend line, but if we hold above here it will help fins support for the reversal. Above 95 we can race to test 100. The divergence could help push it.
Bearish case: This down trend from august 2022. Don't fight the trend.... 85 level will be tested if this reject and fail to make a higher high. Lets see if the pivot plays out and forces the stock to head back down to the bear line.
We are wedging here but if you are not careful you would think that this is the time to jump in the stock.
DON'T!!!
Get a break out above or a rejection before you commit.
So lets put it into perspective.
Bullish case: This is the level needed. Yes it is far from the break of the trend line, but if we hold above here it will help fins support for the reversal. Above 95 we can race to test 100. The divergence could help push it.
Bearish case: This down trend from august 2022. Don't fight the trend.... 85 level will be tested if this reject and fail to make a higher high. Lets see if the pivot plays out and forces the stock to head back down to the bear line.
Sometime you have to take a step back to make a better step forward.
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Sometime you have to take a step back to make a better step forward.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.