Trade setup: Price made a new 52-week Low, which is a sign of downtrend. However, it's trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for that breakout.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum is Bearish ( MACD Line crossed below MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $70.00, then $63.00. Nearest Resistance Zone is $77.00, then $84.00.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum is Bearish ( MACD Line crossed below MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $70.00, then $63.00. Nearest Resistance Zone is $77.00, then $84.00.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.