Is the DFEN dip buyable?
Updated
I think that the dip is very buyable. Fundamentally, Russia has made the world more
dangerous. Shipments of weapons to Ukraine have depleted US and European stockpiles.
NATO is in a growth mode as proposed by former president Trump some years ago.
While many would like less defense spending and shift it into social spending or
infrastructure or clean technology government funding. the pragmatics are that
national security is generally higher on the priority list. DFEN just dropped below
the high volume area of the volume profile on the 15 minute chart in a VWAP breakdown.
The relative strength lines did a bottom bounce on the indicator. I will exploit this
as a long buying opportunity looking to a modest 5% upside target at minimal risk.
dangerous. Shipments of weapons to Ukraine have depleted US and European stockpiles.
NATO is in a growth mode as proposed by former president Trump some years ago.
While many would like less defense spending and shift it into social spending or
infrastructure or clean technology government funding. the pragmatics are that
national security is generally higher on the priority list. DFEN just dropped below
the high volume area of the volume profile on the 15 minute chart in a VWAP breakdown.
The relative strength lines did a bottom bounce on the indicator. I will exploit this
as a long buying opportunity looking to a modest 5% upside target at minimal risk.
Trade active
DFEN trade is up 6.5% and now risk free having raised the stop-loss above the entry.The dip buy is profitable and looking for more.
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