Description
⋅ XME was a strong trend that hit resistance due to Macro economic data changes and has formed a 2 leg pullback.
Prices bounced off volume levels and sit at the pullback measured move target.
Trade is aggro due to the R/Y sideways trend and prices are below 34ema trend. However, there is a lot volume support below this level.
RAF extreme oversold indicator is also in play.
Buy on break above $53.84 to enter trade.
Target - 50% Fibonacci @ $55.50
Stop Loss - 25% Stop Loss
Options are non-existent for XME, so this would be a stock-only trade.