Bearish potential detected for AX1Detected 12-Apr (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 12-Apr.
ASX:AX1 represents a potential bearish opportunity should momentum continue and newer lows be made.
Entry conditions:
(i) lower share price along with swing up of bearish DMI indicator and swing down in RSI.
Stop loss for the trade would be:
(i) above the support/resistance level from the low of 8th March (i.e.: above $1.985), or
(i) above the support/resistance level from the low of 20th March (i.e.: above $2.03), depending on risk tolerance.