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vf_investment
Nov 30, 2022 1:19 PM

INDUS - overbought at the resistance Short

Description

What we can see on the chart is that the price of the stock is overbought.
The price is above the upper Bollinger Band, and also the stochastic shows us overbought conditions (above 80).

The price currently is at the resistance, therefore it would be the entry for the short position. Stop loss and target are shown on the chart.


Comment

Resistance is acting as it should. Trading idea still valid
Comments
Solldy
With the market's current relation to macro factors, I wouldn't be so sure about this idea. Things are changing and becoming more unpredictable.
ProjectSyndicate
similar outlook. thank you for the updates
RLinda
Thanks for the idea) Cool chart
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