Short
CERN under pressure + relative weakness
Overview
CERN continues to underperform. Overall chart is very weak, below all moving averages. And It feels like stock can accelarate to the downside when futures will find resistance. Today, it dropped down on big volume and closed right on $50 support, which acts like strong psychological level.
Trade- and Risk-management
Break below $50 will add some fule. This could be my netry short with stop above $52.17 and target at $46 - support from weekly chart.
CERN continues to underperform. Overall chart is very weak, below all moving averages. And It feels like stock can accelarate to the downside when futures will find resistance. Today, it dropped down on big volume and closed right on $50 support, which acts like strong psychological level.
Trade- and Risk-management
Break below $50 will add some fule. This could be my netry short with stop above $52.17 and target at $46 - support from weekly chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.