TechNerdOmar

ADYEN Reaches the COVID Bottom of this Channel

Long
EURONEXT:ADYEN   ADYEN
EURONEXT:ADYEN has just reached the point I have been anticipating since my stream on 16 December 2021. In the sloped trend lines I have drawn, the current price aligns directly with the COVID bottom in March 2020. I'm trying to find other signs of reversal, but I can't find any except the wick on the current candle which still has three trading days to close.

I would like to keep this in sight. Looking at the S&P500 , I concluded in yesterday's stream that we will not get a V-shaped recovery this time. I believe some stocks will get a V-shaped recovery, but not the S&P500 as a whole. I anticipate a slow recovery for Adyen until RSI , MACD and moving averages catch up with the big drop.

Like this idea if you're interested and would like to see a follow-up.

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