With global markets at or near record highs, asset managers should be considered beneficiaries of the environment, with their capital-light business models supporting profitability.
Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner.
Key Drivers:
- 9th attempt to breach downward trend line extending back to the peak of 01 April.
- 7-day RSI transitioning from neutral to bullish, with positive divergence and downward trend line breakout.
- Price attempting to break it's prior 6-day trading range.
Buy at current levels (2993c) or better.
Stop-loss: 2915c
Target Range: 3260c-3360c
Note: If you're concerned about the potential impact of the Fed minutes tonight then you could look to delay the purchase to gauge the market's reaction.
Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner.
Key Drivers:
- 9th attempt to breach downward trend line extending back to the peak of 01 April.
- 7-day RSI transitioning from neutral to bullish, with positive divergence and downward trend line breakout.
- Price attempting to break it's prior 6-day trading range.
Buy at current levels (2993c) or better.
Stop-loss: 2915c
Target Range: 3260c-3360c
Note: If you're concerned about the potential impact of the Fed minutes tonight then you could look to delay the purchase to gauge the market's reaction.
