Have been watching this stock progress through a strong bear trend. Ideally before entry I'd like to see clear direction on the indexes.
Price is trending strongly on Weekly and Daily time frames. Taking a look at weekly we can see price is resting the monthly .500 Fib, around 70.00. This is a strong level for price, and if we can break and close below the lows we made in 2016, I will be looking to enter short.
First target I'll be looking at is .618 monthly Fib level, and a break below that level I'll be looking for price to head towards $38-35.
Price is trending strongly on Weekly and Daily time frames. Taking a look at weekly we can see price is resting the monthly .500 Fib, around 70.00. This is a strong level for price, and if we can break and close below the lows we made in 2016, I will be looking to enter short.
First target I'll be looking at is .618 monthly Fib level, and a break below that level I'll be looking for price to head towards $38-35.
Comment:
Edit: May Not Be Clear but Red horizontal line is monthly .618 fib
Comment:
I have been standing aside very patiently. Still watching this stock as a potential trade.