For now the covid stocks remain bearish but i don't think that the long term bullish trend is over, so we will play the way the chart tells us too.
Here is my trading plan
- Next week, we should see a minor sideways uptrend towards $241 or a bit above that. The choppy nature followed by a minor impulse during the Earnings (expect to for a bear flag or a triangle pattern) will confirm the wave iv. Once it breaks the pattern formed, we are going to take the short for the target of $185.
- Post that we will see if the Bull tries to fight and start an impulse up or this goes sideways for few weeks.
Here is my trading plan
- Next week, we should see a minor sideways uptrend towards $241 or a bit above that. The choppy nature followed by a minor impulse during the Earnings (expect to for a bear flag or a triangle pattern) will confirm the wave iv. Once it breaks the pattern formed, we are going to take the short for the target of $185.
- Post that we will see if the Bull tries to fight and start an impulse up or this goes sideways for few weeks.