SHORT - AZO SL: 1193.13 (Suggested by our algorithmic system) TP: 1123.62 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Tested resistance level 3 times and failed to break through
2. Volume indicators suggest that AZO is in a distribution phase or in the supply zone
3. RSI, MACD, Stochastic indicators showing some bearish divergence
---------- Chart Drawings ----------
Blue Solid Line: Support Trendline Red Solid Line: Resistance Trendline Red Rectangle Box: Resistance Level Blue Rectangle Box: Support Level Purple Vertical Line: Suggested Stoploss by our algorithmic system Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/640BFCT (Timestamp is in Australian Sydney Time UTC+7)