STEINHOFF Idea for JSE:SNH by BrendanKZN

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supportandresistance supplyanddemand pivotpoints priceaction jse steinhoff snh stocks

Is STEINHOFF trying to recover? Is this the best price we will see in a long time?
Testing some price action ideas. Testing.
Wait for the new monthly pivot , watch what price does on lower time frames, be cautious.
Price can do anything.
Beware the anchor.

Comments

Amazing work! Keep it up and leave us a like aswell :)

DACapitalTrading

@DACapitalTrading, Thank you!

Really appreciate it, thank you.

Hi Brendan
Where do you see the bottom for Steinhoff

GOVENDLO

@GOVENDLO, Hi there, it is a bit difficult to tell now, there is no previous price action data to find a "bottom". If you trade with price action, there would be better setups on other stocks with higher "probabilities" to trade. I would just watch this for now and see how price behaves, with the history of this stock there is no telling what it could do now. Take care.

GOVENDLO

@GOVENDLO, This could have been a "shakeout" or "stoploss hunt", price will go where there is liquidity. And a new low would have found lots of it at a cheap price.