Next swing ASSA_B shown on a weekly chart.
I have added some indicators to the chart to give you some ideas on how it has behaved.
As you can see it has gained a nod like all other stocks when Corona started, but has since been steadily rising with higher highs and higher lows and is now at the support line
Both RSI and MACD are positive and uptrend, the same applies to the MA lines 20/50/200 (on a one-day chart), ie the price itself is in uptrend.
The positive thing about it is so positive is that it has just crossed the MA 200 line and made a bullish cross with MA 50 (positive long-term signal)
As I see it, 2 things can happen now.
1: It lies and gathers more momentum up here at the support line before it breaks through,
2: The support line rejects and it gets a nod down and maybe even down to the trend line, however, I could not just imagine that it breaks down through price 205,
A possible take (not a recommendation just a thought)
Entry: course 218
Take Profit target 1: Price 250 (14.60% - Risk 3.38)
Take Profit target 2: Price 270 (23.40% - Risk 4.31)
Stop Loss: Price 209 (MAX tab 4%)
Disclaimer: I do not hold the stock
greetings
Marttin
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Tekniskanalyse/simpleinvest
Long
