Advanced Energy Industries starting new downtrend
Hello traders!
After overshooting all moving averages, the price of Advanced Energy Industries has broken out of its corridor and bounced off of the bottom of the corridor, which confirmed the breakout. The RSI is far away from being oversold and the MACD looks pessimistic. I believe the MACD crossing below the 9 EMA and the 100 SMA crossing below the 200 SMA initiated a new short-term downtrend at least to the 59.74 support/resistance and with high probability as well to 51.86. Dropping to 46.88 would be an unexpected lucky shot, but with a moving Stop Loss it's worth a try!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
After overshooting all moving averages, the price of Advanced Energy Industries has broken out of its corridor and bounced off of the bottom of the corridor, which confirmed the breakout. The RSI is far away from being oversold and the MACD looks pessimistic. I believe the MACD crossing below the 9 EMA and the 100 SMA crossing below the 200 SMA initiated a new short-term downtrend at least to the 59.74 support/resistance and with high probability as well to 51.86. Dropping to 46.88 would be an unexpected lucky shot, but with a moving Stop Loss it's worth a try!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
💥 Free signals and ideas ➡ t.me/vfinvestment