FUNDUMENTALS:
Price jumped from earnings surprise.Still the earnings were a loss and i think the general downtrend will keep going for some time(although it has lost some steam).
TECHNICALS:
1.General downtrend
2.Strong mirror level (support now resistance ) at 25.7-25.8 level
3.200 EMA coming down
4.Stochasticks not overbought yet
So..R/R is good will put around SL 26-27 area and TP around 20-21 area and maybe lower if we see a strong movement.
Wait for the reject of the level.
Thank you for reading .Good trading.
Price jumped from earnings surprise.Still the earnings were a loss and i think the general downtrend will keep going for some time(although it has lost some steam).
TECHNICALS:
1.General downtrend
2.Strong mirror level (support now resistance ) at 25.7-25.8 level
3.200 EMA coming down
4.Stochasticks not overbought yet
So..R/R is good will put around SL 26-27 area and TP around 20-21 area and maybe lower if we see a strong movement.
Wait for the reject of the level.
Thank you for reading .Good trading.
Trade active:
Seems he 200ema will hold.R/R is great aim for 21-20
Trade closed: stop reached