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Timonrosso
Jan 17, 2024 1:46 PM

NIBE Industries Short brewing thanks to an M Formation Short

NIBE INDUSTRIER AB SER. BSTO

Description

M Formation has clearly formed on the daily chart.

The price has broken below the Neckline which is showing more downside to come.

We have other indicators showing a downtrend momentum including:

200>20>7
RSI<50
My first target will be at 43.22
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