Hi traders,
Weekly Trading Strategy
The stock is showing a potential double bottom or rounding bottom formation on the weekly chart after a period of decline.
Key Technical Observations:
• Support Level: Holding strong around the 27.50 - 28.00 zone.
• Resistance/Breakout Point: The immediate horizontal resistance is at 36.00. A weekly close above this level could signal a trend reversal.
• RSI: The RSI is currently around 48, moving upwards from oversold territory, suggesting gaining bullish momentum.
• Moving Averages: Price is currently testing the 20-week EMA.
Idea: Accumulate near support at 28.00 or wait for a confirmed weekly breakout above 36.00 for a long-term swing trade. Target the prior highs near 40.00+.
Weekly Trading Strategy
The stock is showing a potential double bottom or rounding bottom formation on the weekly chart after a period of decline.
Key Technical Observations:
• Support Level: Holding strong around the 27.50 - 28.00 zone.
• Resistance/Breakout Point: The immediate horizontal resistance is at 36.00. A weekly close above this level could signal a trend reversal.
• RSI: The RSI is currently around 48, moving upwards from oversold territory, suggesting gaining bullish momentum.
• Moving Averages: Price is currently testing the 20-week EMA.
Idea: Accumulate near support at 28.00 or wait for a confirmed weekly breakout above 36.00 for a long-term swing trade. Target the prior highs near 40.00+.
Trade chiuso: obiettivo raggiunto
target reached
💥 Free signals and ideas ➡ t.me/vfinvestment
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💥 Free signals and ideas ➡ t.me/vfinvestment
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.