Technically speaking I see this rebound as the start of a possible recovery. The price is already over the VWAP on 2 hours, the MFI is oversold since October 8 on 4 hours, the ADX is slightly moving down from the current bearish micro-trend also on 4 hours, so for me, the bearish momentum seems to be getting weaker.
Hopefully, the price will stay above the 233 SMA, the green line. 🤞
My first target is the closest yellow line above the price, the average APT (Analyst Price Target) at $431.12, and two more targets at 127.20% and 150% Fibonacci levels. Stop-loss already moved to a small percent above break-even.
If the price gets me out I will enter again at the yellow line below the price, which is the average lowest projection made by some analysts which at the same time converges with a high volume area, the purple line. 👌
From my point of view, the fundamentals aren't terrible, I believe indeed they are promising. If you want to go deeper you will easily find many analysts talking about the company.
I'm in since yesterday, and I will do my second entry in a possible retracement close to the $397.
This isn't trading advice. I've no idea what I'm talking about 😉.
Trade with caution! 🚨
Have a good day! 🤟
Hopefully, the price will stay above the 233 SMA, the green line. 🤞
My first target is the closest yellow line above the price, the average APT (Analyst Price Target) at $431.12, and two more targets at 127.20% and 150% Fibonacci levels. Stop-loss already moved to a small percent above break-even.
If the price gets me out I will enter again at the yellow line below the price, which is the average lowest projection made by some analysts which at the same time converges with a high volume area, the purple line. 👌
From my point of view, the fundamentals aren't terrible, I believe indeed they are promising. If you want to go deeper you will easily find many analysts talking about the company.
I'm in since yesterday, and I will do my second entry in a possible retracement close to the $397.
This isn't trading advice. I've no idea what I'm talking about 😉.
Trade with caution! 🚨
Have a good day! 🤟