Signals Position: short Entry price: 286 Target: 272 SL: 275
Indicators RSI is reversing from a position of overbought: good time for a short DMI- is reversing indicating a bearish trend Both Keltner channel and Bollinger bands indicate a strong trend
Pattern The price is bouncing between the support and the resistance lines and the bearish trend has been confirmed
Conclusions SWH develops, manufactures, distributes and sells paint, coatings and related products to professional, industrial, commercial and retail customers. Mostly based in the US. The number of of new residential sales has been decreasing since May 2020 in the US. The fundamentals of the company, the Q2 earnings released today and the candles themselves cannot carry to break the resistance.