Long Setup - Insured by $AIG!
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What I see...
+ After finding Support in mid-March, prices tested the $27.5 Resistance level 4 times in 2 months
+ It formed a higher low during each pull back painting a wedge shape
+ Prices pulled back again this week but found Support at the trendline and 50MA
+ It bounced back today with a Piercing Line candles on higher vol.
+ MACD is rising but still in neutral territory
+ RSI has just bounced back from the middle at 50.62
+ The Bollinger is squeezing with prices sitting in the middle of the band
+ 10 MA is about to cross 50 MA
- MACD trigger line is still in negative territory
- RSI is hoovering at around 50
- Strong Resistance at $28!!
- Both faster MAs are still under the 200 MA
What I setup...
+ Long entry above -1d high
- Stop is conservatively set to last week's low
+ Target is 0.382 Fib
:: Duration 3 to 5 sessions
What I see...
+ After finding Support in mid-March, prices tested the $27.5 Resistance level 4 times in 2 months
+ It formed a higher low during each pull back painting a wedge shape
+ Prices pulled back again this week but found Support at the trendline and 50MA
+ It bounced back today with a Piercing Line candles on higher vol.
+ MACD is rising but still in neutral territory
+ RSI has just bounced back from the middle at 50.62
+ The Bollinger is squeezing with prices sitting in the middle of the band
+ 10 MA is about to cross 50 MA
- MACD trigger line is still in negative territory
- RSI is hoovering at around 50
- Strong Resistance at $28!!
- Both faster MAs are still under the 200 MA
What I setup...
+ Long entry above -1d high
- Stop is conservatively set to last week's low
+ Target is 0.382 Fib
:: Duration 3 to 5 sessions
Trade active:
Setup triggered; Long!
Trade active:
Moved Stop to 24.28
Trade active:
Moved Stop to BE