Deer following Cat down this week. 5%-20% short gains possible
DE is showing a strong bearish MACD-histogram divergence following a second failed attempt close the gap-down and break resistance at 147.
CAT's (same big machinery bucket) earnings miss, downgrade and refusal to give guidance might weigh on DE too.
Next support levels down are at the 129.50 (~5% down), and then 110 (~20% down).
CAT's (same big machinery bucket) earnings miss, downgrade and refusal to give guidance might weigh on DE too.
Next support levels down are at the 129.50 (~5% down), and then 110 (~20% down).
Comment:
Tracking towards the first target as expected, but the 30min chart is starting to show bullish MACD-h patterns that might cause a reversal here.
Comment:
Managed to trade this last Monday, but missed the open and only caught a 1% gain before being stopped out in the recovery at the end of the day. Opportunity closed.