X is killing it after a big earnings beat. I would enter a bullish trade on X if it pulls back and maintains its bullish trend. It seems as though the EMA 50 might catch back up to the price and could provide support or become resistance on a cross. I will need to see more before I would have enough inclination to enter.
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
Comment:
X opens the day with more losses. Time will tell if this is a pull back or a reversal back to a SMA 50 touch. With so much bullish sentiment since 30JUN, it would be ambitious to call this a reversal. If X shows signs of a bounce near the 24.75 mark I will take this as an opportunity to enter bullish.
Comment:
Could be forming a flag pattern here. This is becoming more and more of a bullish watch for me.