Idea number S-004 | Siemens stock could fall toward support in the 126/124 EUR area.
The setup is negative, the stock is trading below the 20-day and 50-day moving averages. The MACD is negative and below its signal line. The RSI is trading below 30. This could mean that the stock is in a sustained downtrend or that it is simply oversold and therefore a rebound could take shape. In that case I would protect a possible bearish position with a tight stop loss on the pivot point as I show below:
📉 Short Entry at 134.8 EUR 💰 Take Profit at 124 EUR 💸 Stop Loss at 140 EUR