Short Term - We look to Sell at 25.34 (stop at 26.01)
Levels close to the 78.6% pullback level of 27.36 found sellers. Further downside is expected and we prefer to set shorts in early trade. The move higher is mixed and volatile, common in corrective sequences. The bias is still for lower levels and we look for any gains to be limited.
Market just finished 1-5 Elliot wave, broke a downtrend and started ABC correction ,we are expecting price to bounce at 57 zone which is 0.618 fib zone (Reversal zone) and also we can see an institutional candle in 4h timeframe.
R/R Ratio: 5.22
Axa - Short Term - We look to Buy at 26.38 (stop at 25.61)
Preferred trade is to buy on dips. The medium term bias remains bullish. Prices expected to stall near trend line support. Previous support located at 26.20.
Our profit targets will be 28.63 and 29.45
Resistance: 28.00 / 29.00 / 30.00
Support: 26.20 / 25.00 / 24.00
Disclaimer – Saxo Bank...
Logic: close & re-test of 50D EMA puts AXA in intermediate uptrend following significant drop and 2 months sideways consolidation.
Entry: €17.00- €17.20
Stop: €15.50 (can consider lower if longer term outlook)
Target: €20.50 & ultimately €23.00 yearly pivot retest from February drop.
Gain: +19.48% & longer term target +33.72%
Note: among highest...
This is one of our open positions where we have not yet moved the stop loss because the last high of the bullish trend has not brokenout.
Our operation from the point of view of stock market analysis is mainly to search for resistance levels, for example ascending triangles, rectangles, cup & handle, etc..
What we do is the result of years and years of...