MaryJane
Short

Midterm View: HONDA with Bearish FLAG???

NYSE:HMC   HONDA MOTOR COMPANY LTD
107 2 30
Since 2010, a really loadable bottom @ 28$ established itself. Several times HONDA tested this "buying-Niveau" and was bought.
This Year, Honda dived through this Level and made a new low at 24.5$
After this break, Honda retested this former support Zone 2 times but could not overcome this level.
As Long Honda is trading below 28$-28,75$ this Level still remains as a Pivot resistance Level . With my technical view i see a clear bearish flag . The TP of this pattern could be 21,5-22,5$.
Prices above the old Support Zone (~28,5) will generate a Long Setup with taget @ the midterm downtrend`s uper edge @ 30,5-31$

In my Chart i have illustrated the mentioned short Position by virtue of the bearish flag .
Trade active
Comment: ideal....
Comment:
snapshot
"2" triggered, new shortsignal active as Longas HMC is trading < 24.5
Well done!
Reply
Great call! Well done!!
Reply
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