Global X Cloud Computing ETF (CLOU)
The Global X Cloud Computing ETF ran up 33 % from May 2021 to November 2021 and has given back nearly 90% of that gain.
Harmonically (Shark Pattern and ABCD) one could build as case for a pending reversal.
As this is a counter-trend trade I'd like to see evidence of a reverse both with momentum turning up and signs of a definite price reversal.
To this end I have added an entry point as well as a stop point and targets.
As always do your own due diligence, respect market direction, sentiment and volatility.
This is not investment advice
S.
Harmonically (Shark Pattern and ABCD) one could build as case for a pending reversal.
As this is a counter-trend trade I'd like to see evidence of a reverse both with momentum turning up and signs of a definite price reversal.
To this end I have added an entry point as well as a stop point and targets.
As always do your own due diligence, respect market direction, sentiment and volatility.
This is not investment advice
S.
Comment:
Nothing done as the entry was not triggered...lowered entry and discovered a longer term harmonic bat. Momentum oscillator has not turned up....
