This has retraced nicely to 0.5 Fibonacci after testing the previous high. It has since risen and found support at 0.382 Fib as well and is looking good to continue to rise now. I expect this to test the high again and create a new high at -0.27 Fib which would equal a price of 1088.
Daily MACD crossed, will buy Monday assuming no bad news on vaccines...what's your view on Wizzair?
olly48
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@bufftrader, I dont really know about the fundamentals of Wizzair but looking at the chart it looks like a good buy at the moment. Its clearly bounced from the support over the last couple of weeks and is now at its all time high levels again. It is looking bullish but I would wait and see if it breaks above the all time highs from here and then look to long after a retrace. If it does not break through when the market reopens buying around 4500 could be good as it will almost certainly push higher eventually. These smaller airlines will follow in the rise with the larger airlines, assuming they dont go bust before they get the chance.
bufftrader
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@olly48, vaccines news caused travel to drop. I'm sitting it out a bit longer. On a different note, have you seen this ROGB. Overpriced RSI but keeps rising.
@olly48, sorry that's was a bit of a random question. ROBG is LEGAL & GENERAL UCITS ETF PUBLIC LIMITED COMPANY ROBO GLOBAL ROB&AUTO GO UCITS ETF. I'm new to tradingview.
olly48
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@bufftrader, ah right, I searched it wrong. I don't follow ETF's, they might follow a different set of rules to stocks and forex, I think they are much more prone to big moves. Just having a quick look at some others and a lot of them have done the same thing. Also RSI is just an indicator, it does not necessarily mean it will drop just because it is overbought, there might be other factors at play.