New monthly and weekly demand levels created around $10.40 and $10 respectively. We cannot and should not sell short a stock if there are new demand levels being created, impulsive moves are now eliminating supply levels, the bias should be longs at new demand levels.
We do not take into consideration any , no announcements or , we do not need any of that to make a trading decision based on imbalances. We just need to know where those imbalances are located and what is the bigger picture trend on the stock.
You can also use various options strategies to take longs at demand imbalances, long calls, spreads or any other strategy that you might have on your trading plan.
Still if you want to pay attention to of this stock, as reported by Bloomberg, . said full-year profit, excluding some one-time items, climbed more than sevenfold from 2017, after it shut and sold mines in South Africa and lowered amortization in Brazil.
Headline for the period are expected to be between $207 million and $224 million, up from $27 million the previous year, the Johannesburg-based miner said in a statement on Monday.
No need to pay attention to fundamentals, in this case it is also helping the trading decisions to go long since the fundamentals also give us a bias, but fundamentals will most of the time align against these imbalances preventing us from taking high probability trade setups.