Looks ominous, however a lot of strange things have been moving this stock. Obviously it's a meme but sometimes technicals get these right.
Using strictly the 80/20 rule I put this at 80% chance of downward movement. Probably not a brisk movement at first, but it'll visit $34 again
It's been a long road with $XL
But I'm still bullish it fills a necessary gap in the overall electrification game. There are hedge funds shorting it and releasing fake news articles to try and drive the price down, but I'm holding with diamond hands. Something tells me the hedgehogs as I like to call them are up to something; I wish there was a way to see if...
I've written down the notes for the trade on the chart, all self explanatory. I'm only looking for short opportunities on this pair as it has broken 200 EMA support. Yes the fundamentals of BoJ QE are still in play, but the current trend is currently in control of the bears. And remember the Yen is tied to commodities, and the market appetite for risk. And always...
