Commitment of Traders shows that central banks have been shorting the dollar since June, the slash in 1% slash in interest rates by the FEDs is doing the Dollar any good either. Technically we have a good ol' Cup & Handle, we broke the handle's ascending channel quite impulsively, we are now creating another ascending channel.
The current news and development suggest that DIDI will continue to go down.
1. The growth expectation is shattered by delisting the app.
2. The company has a lot of debt, just like any tech companies.
3. Earning growth will be slumpped until they figure out how to get past the hurddles.
THE MOST IMPORTANT
4. Management's dishonesty was well documented with...
In that Orange Box I expect to see ranging for the rest of the week, then a continuation breakout ending into the 39-40K area the following week.
What I would like to see after is price holding the level of 40K for a couple weeks in terms of its daily and weekly closures. The zone at the very bottom is a bonus area for additional spikes we can expect to see....
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Long 1000 $COST
Short 2525 $WMT
Mean Reversion Time: 12 Trading Days