jazziej

ABB - Trend+Vol Profile - Short

Short
ASX:ABB   AUSSIE BROADBAND LIMITED
ASX:ABB

After an accumulation rotation period stock price fell. Candles have now gone back up the POC. Weekly - Candle today inverted hammer on an uptrend -shooting star which is bearish .

Daily chart - ST and LT EMA trends are bullish which is contrary to the bearish thesis.

Anticipate - short term will bounce off POC around 4.91 and fall. ST EMA could turn bearish .

Placing a short trade.

Trade closed: stop reached: Stop Loss triggered out of trade.

LEARNING:
Do not bet against the trend - bullish as mentioned as a risk to my thesis. Stock is also a favorite by small caps fundies, who like to pick it up when it's beaten down. There's still plenty of upside potential, management continues to execute and do well.