DSK share price has had an immediate rebound from the bottom support zone marked with the ascending wedge, and is likely to start a bull run towards resistance. If the market continues strong before the 27th of August when they release the 2021 financial year results, it is possible for the share price to reach $4, or even a new all time high.
With my trading approach I would rather be more comfortable buying it if it bounces back from $2.98 price level (approximately) with confirm trend reversal.
ryanlong
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@AsimMirzaTrader, I'd get that, would be a very big pull back, I'd love to hear more of your trading strategy.
AsimMirzaTrader
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@ryanlong, I have published an idea on DSK, link below. Hope this helps. You can also give your input on it. Thanks.
ryanlong
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Thankyou @Angusmck, I'm trying to learn trading as quick as I can and thought I should post along the way
did you notice how price came down on 20th Aug 2021 at around $2.87.
I am still not comfortable buying even it's nearly 4.5% up today, because if I am buying I will be looking for trend reversal confirmation.
it's pretty much possible it may touch my buy zone 2.
ryanlong
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@AsimMirzaTrader, I was literally viewing your graph last night whilst looking at this stock, Very impressive calls. I agree with you and I am also waiting to see it pull back further, I'd feel comfortable if I saw the price drop to around $2.74 with a good reversal confirmation, but your most likely right, it might pull back further. I am going to play it patient and see what happens. I can see why you've put your buy zones there, cheers for informing me
AsimMirzaTrader
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@ryanlong, I think it looks good at current price 3.28, if it stays above 3.14 price level, It can continue up trend from here.
ryanlong
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@AsimMirzaTrader, I am liking the look of the graph now, looks like it might rally for a bit.
I am thinking TP at $3.64
AsimMirzaTrader
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@ryanlong, yes, it looks good, $3.60 is next target, see how it goes beyond $3.60, it's possible It can go higher and might try to reconcile at $3.60 range.