After Bristol gapped down, the stock is trying to find a bottom - the down-dynamic decreases - we haven`t seen a countermove yet.
I will illustrate how you could use that for a longtrade with a very ggood CRR. (2,3 or 7,1)
1. Opening a longposition at the present Niveau is interesting because the RSI is still strong oversold and signs a possible upcoming long-Signal.
Furthermore, the stock is trading at a Level, which was already bought 5 times and the the uptrend-line is not far away. A normal correction up to the fibo 38,2 is thinkable- Here is also based the gaps bottomedge as a resistance.SL near below the support-Level @ 56.35 -> TP1 = GAPs bottom / 38,2 fibo @ 64.75/65.4
2. Reaching the gap would fool me to think about a "gap-close"-Play. Here you could open a second Long Position with TP: Gapclose
3. Trading below the illustrated supportlevel 64.75-65.4 will initiate a bigger midterm/longterm shortsignal
resistances: 64.75 (gap) / 65.4 (38.2) 67.67 (0,5) / 64.94 (62,8)
supports: 58.0 8former low) / 56.9 (uptrend) / 56,35/ 51.8 / 47.5 / 46.3
Comments are welcome - agree or disagree
I will illustrate how you could use that for a longtrade with a very ggood CRR. (2,3 or 7,1)
1. Opening a longposition at the present Niveau is interesting because the RSI is still strong oversold and signs a possible upcoming long-Signal.
Furthermore, the stock is trading at a Level, which was already bought 5 times and the the uptrend-line is not far away. A normal correction up to the fibo 38,2 is thinkable- Here is also based the gaps bottomedge as a resistance.SL near below the support-Level @ 56.35 -> TP1 = GAPs bottom / 38,2 fibo @ 64.75/65.4
2. Reaching the gap would fool me to think about a "gap-close"-Play. Here you could open a second Long Position with TP: Gapclose
3. Trading below the illustrated supportlevel 64.75-65.4 will initiate a bigger midterm/longterm shortsignal
resistances: 64.75 (gap) / 65.4 (38.2) 67.67 (0,5) / 64.94 (62,8)
supports: 58.0 8former low) / 56.9 (uptrend) / 56,35/ 51.8 / 47.5 / 46.3
Comments are welcome - agree or disagree
