UA
"Our preference: “Neutral" on the trend and pivot point, pending market driven data. Alpha1's favored outcome illustrated by the directional arrow(s) on the chart image.
A comment that briefly describes the arguments underlying the strategy and how Alpha1 formed its opinion.
o Bullish – Trading Opportunities:
The pair has been trending upward on the daily chart.
Price is making higher highs and higher lows.
Price crossed above the SMA 200 in early January 2023.
Price breached Resistance #1.
Next test will be Resistance #2.
• Factors affecting next move - Depending on macroeconomic events, earnings*, other fundamental data
*Earnings Release – Wednesday, March 23, 2023, Est. 0.088.
o Bearish – Trading Opportunities:
Next test will be Resistance #2. If earnings miss this will not be a good bullish sign, so look for short trading opportunities.
• Factors affecting next move - Depending on macroeconomic events, earnings*, other fundamental data
*Earnings Release – Wednesday, March 23, 2023, Est. 0.088.
The ST and MT trend summarizes Alpha1’s opinion and is Short Term (ST) over one week horizon or the Medium Term (MT) over one month horizon.
o Short Term – A1’s opinion within two weeks- Bullish
o Medium Term - A1’s opinion within one month - Neutral