GMMA crossover between 6.25-6.50 with strong momentum, with MACD in long position BUT RSI overbought way over 70 so opening a position would have been very risky... despite overbought price reached 6.79 before retracing so there was space for a gain but I thought there was too much risk for me buying with RSI at 74.
A strategy could be waiting for a retracement on MA200 and buy hoping for a rebound that could lead price towards April highs and resistance; take profit between 7.10-7.20 and I would put SL under MA70 at 5.85. RR is 2.29
This is the first time stock closes over MA 200 in over a year, so that could be a good long signal using MA200 as a long/short filter and as a dynamic support.
A strategy could be waiting for a retracement on MA200 and buy hoping for a rebound that could lead price towards April highs and resistance; take profit between 7.10-7.20 and I would put SL under MA70 at 5.85. RR is 2.29
This is the first time stock closes over MA 200 in over a year, so that could be a good long signal using MA200 as a long/short filter and as a dynamic support.
Trade active:
Fca.mi looks very healthy with another positive day even with RSI >76; still waiting for price to approach MA200 and rebound.