SBOW daily - possible bullish trade
SBOW daily - is in a falling wedge which could be a very bullish and powerful pattern.
Volume is weak as it is below 20 days average which is bearish.
SBOW is below all major MA which is also bearish.
RSI is neutral with a slight bullish divergence meaning the price is falling or at the same level while relative strength is not what is bullish.
MACD has also a positive/bullish divergence with a positive histogram tick that is bullish.
Overall: SBOW is in a falling wedge which is a bullish pattern. With daily close or stronger move with a volume above the blue upper dotted line would trigger a long position with a short below 10 and 11 Jan low. SBOW is at the moment bullish fundamental stock and therefore would be traded on long.
Volume is weak as it is below 20 days average which is bearish.
SBOW is below all major MA which is also bearish.
RSI is neutral with a slight bullish divergence meaning the price is falling or at the same level while relative strength is not what is bullish.
MACD has also a positive/bullish divergence with a positive histogram tick that is bullish.
Overall: SBOW is in a falling wedge which is a bullish pattern. With daily close or stronger move with a volume above the blue upper dotted line would trigger a long position with a short below 10 and 11 Jan low. SBOW is at the moment bullish fundamental stock and therefore would be traded on long.
Comment:
Long trade trigger after crossing blue dotted line. Stop loss is below yesterday's low.
Comment:
Full exit. We have a shooting star reversal candlestick while at the same moment, we didn't have a breakout from the falling wedge on big volume as I expected.
Income trade, enter in trade at 27.03 and full exit at 27.54 (1.9%)
Income trade, enter in trade at 27.03 and full exit at 27.54 (1.9%)
Consistency is the key of success....