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Long

CDK Global - $CDK - Long

NASDAQ:CDK   CDK GLOBAL INC
cdk
20 0 2
cdk
CDK             is still within this ascending channel but the last 3 weeks has seen a drop in the price from highs of around $55. If we look on the daily chart price is approaching previous resistance and the 0.5 Fib level.

I will be looking to get long from $50 but we could see price go as low 48.5 with a bounce off the ascending trend line.

The RSI (2) is showing oversold levels and price has spent 10 days below the 10SMA which in my opinion is very oversold.

Target of $54.
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