Since 3 years the stock is trading in a sideway-range 15.0$-18.0$.
This year the stock traded below the strong Support @ 15$ and the result of it was a selloff till 11$. From then on, the stock climed again, established itself a shortterm uptrend and testet exemplairy the old Support Zone which turned into a strong pivot resistance Level. Here is also based the SMA 200 and the 61,8 fibo retracement as the Maximum correction Level of the youngest upmove.
The first test of this Level in April was negative, the stock dropped to it`s shortterm trend`s bottom edge at 13.7$
A bearish flag appears (yellow)--> The TP of the flag would be 8,5-9$.
If you Play the shorttem 1-2-3-setup (
) then now is the time to enter the market with a shortterm Long Position. You can open the Position at the actual Niveau and you could install your SL near below the last valid green "3" in exspectation, a new "2" is getting formed.
Should the stock could not sustainable reenter the Zone between15-18$, a shortposition is thinkable. Selling the last green "3" would generate TP`s at 12,8 / 10.9$
If you are a purelongterm cyclical technical Trader you prefer the shortposition with entry (stoppsell) when the Price is below the last valid "2". The TP would be 8,5-7,5$!
Should the stock reenter the sideway Zone with Prices > 15$, the TP is 18$
Good luck!
This year the stock traded below the strong Support @ 15$ and the result of it was a selloff till 11$. From then on, the stock climed again, established itself a shortterm uptrend and testet exemplairy the old Support Zone which turned into a strong pivot resistance Level. Here is also based the SMA 200 and the 61,8 fibo retracement as the Maximum correction Level of the youngest upmove.
The first test of this Level in April was negative, the stock dropped to it`s shortterm trend`s bottom edge at 13.7$
A bearish flag appears (yellow)--> The TP of the flag would be 8,5-9$.
If you Play the shorttem 1-2-3-setup (
Should the stock could not sustainable reenter the Zone between15-18$, a shortposition is thinkable. Selling the last green "3" would generate TP`s at 12,8 / 10.9$
If you are a purelongterm cyclical technical Trader you prefer the shortposition with entry (stoppsell) when the Price is below the last valid "2". The TP would be 8,5-7,5$!
Should the stock reenter the sideway Zone with Prices > 15$, the TP is 18$
Good luck!