Bearish potential detected for A2M

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 4hr support/resistance levels previously established, depending on risk tolerance (i.e.: $8.25 from 23rd January or $8.14 from 20th January).

Depending on risk tolerance, the stop loss for the trade would be:
(i) above all congestion and declining yearly VWAP (currently $8.79), or
(ii) above the previous support level established on 18th December (open of $8.92).

Giao dịch đang hoạt động

UPDATE (week ending 30-Jan): Trade activated on Wednesday, 28th January, however do be cautious of the wick that was formed upon market reaction at the $8.25 level the following day, which could oppose this short position. Declining yearly VWAP at end of week is currently $8.72.

Ghi chú

UPDATE (week ending 06-Feb): Depending on how strict an individual trader placed their stops for this short trade, the swings to the upside during the week may have triggered on Tuesday, although the share price didn't stop above the suggested stops on this day. By the end of the trading week, the share price had managed to fall away below numerous 4 hourly support levels to display poor relative strength to the overall market. Consider lowering stops to slightly above the yearly VWAP, which currently sits at $8.69 and is declining on the daily chart. Also be aware of the upcoming earnings release for the company scheduled for Monday, 16th February.

Giao dịch được đóng thủ công

UPDATE (week ending 13-Feb): Share price continued to flail around directionless throughout the week prior to earnings release noted in last week's comment - decision point was present for anyone still in the trade prior to the earnings release on Monday. As always, earnings results can move the share price in an unpredictable fashion and are a coinflip - capital preservation and risk management is key. Coverage ceased.

Ivory_Wolf

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