First we catch up on, the price has tested three times a support in the 39.00 area, and then the price broke a resistance level around 45.00, now this resistance is working like a support. This action happened between august 2017 and December 2017 (The support) and now in our days the price is above 45.00, the new support, that is all.
Now I propose two targets based in past supports that now can act like resistance
For a swing trade the target is 55.00
For a position trade the target is around 67.00
Remember wait for a pullback around 45.00 for a better entry with the daily chart
https://www.tradingview.com/chart/VEIBUXco/
Definitions at American way:
Swing Trading: Is a speculative activity in financial markets where a tradable asset is held for between one and several days in an effort to profit from price changes or 'swings'. A swing trading position is typically held longer than a day trading position, but shorter than buy and hold investment strategies that can be held for months or years. Swing traders use technical analysis to look for stocks with short-term price momentum.
Swinging: Sometimes called wife swapping or partner swapping, is a non-monogamous behavior in which both singles and partners in a committed relationship engage in sexual activities with others as a recreational or social activity. Swinging is a form of open marriage. People may choose a swinging lifestyle for a variety of reasons. Many cite an increased quality, quantity, and frequency of sex. Some people may engage in swinging to add variety into their otherwise conventional sex lives or due to their curiosity.
Now I propose two targets based in past supports that now can act like resistance
For a swing trade the target is 55.00
For a position trade the target is around 67.00
Remember wait for a pullback around 45.00 for a better entry with the daily chart
https://www.tradingview.com/chart/VEIBUXco/
Definitions at American way:
Swing Trading: Is a speculative activity in financial markets where a tradable asset is held for between one and several days in an effort to profit from price changes or 'swings'. A swing trading position is typically held longer than a day trading position, but shorter than buy and hold investment strategies that can be held for months or years. Swing traders use technical analysis to look for stocks with short-term price momentum.
Swinging: Sometimes called wife swapping or partner swapping, is a non-monogamous behavior in which both singles and partners in a committed relationship engage in sexual activities with others as a recreational or social activity. Swinging is a form of open marriage. People may choose a swinging lifestyle for a variety of reasons. Many cite an increased quality, quantity, and frequency of sex. Some people may engage in swinging to add variety into their otherwise conventional sex lives or due to their curiosity.