Is this a good time to buy the dip???
My answer to this question is: No this is not a good time and we are going to see lower prices in the next 2 weeks and then there could be recovery!
50 days rate of change is negative and SPY seems rejected from 50 days EMA.
Most probable scenario:
another leg of decline in the next week:
You can see the most important support(green line) and resistance (red line) levels.
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
50 days rate of change is negative and SPY seems rejected from 50 days EMA.
Most probable scenario:
another leg of decline in the next week:
You can see the most important support(green line) and resistance (red line) levels.
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Trade closed: target reached: