VDE $VDE Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
VDE tracks a market-cap-weighted index of US energy companies. The index includes those companies deemed investable by MSCI and covers 98% of the market.
I would look to get out around 47.30$ maybe even a bit lower , not sure what your target was this analysis is personal opinion , in no way it's a professional guidance for a particular position. I do wish you luck, sounds like this one will be a great winner for you :)) what's your vision on it, where do you think you will actually get out? sometimes its best...
IF this count is correct we could be at a temporary or even possibly a long term bottom. I have two "B " , if the 2nd one (B?) is the correct one then may have more drop to the .84 retreat. Must watch the price action the next couple of weeks for comfirmation. Process you way. Have a great week.
I would like to see a stronger RSI and a 6/10 MA crossover. But I am mostly certain the trend has turned up.
VDE broke out strongly this week, ended its down trend and started its up trend. There will be pullbacks and can be buying opportunities.
MACD broke out, RSI rising channel formed. and price is breaking out of the channel. A pullback from here is reasonable but a continuing rising RSI may signal a strong breakout in coming weeks.
Comparing with 2008 bottom process, 2016 so far has similarly diverged RSI and MACD. This may indicate a bottom might be in. Will need breakout to confirm.
If the blue supports hold, I think red resistance can be the target. Note the falling wedge is not exhausted yet and the overall trend is still down.
Will be good if blue resistance is cleared.
Living in triangle (still !) Will add position if breaks out, will take some profit if breaks down. Right now just hold and see.
Pulled backed logically from red resistance. Nothing is concerning at this point. We will what it brings next week. 10 MA, RSI and MACD all healthy. Will be concerned if pink line and 10 MA gets taken out.
It closed on the flattened 10 week MA, in a rising channel between the pink and blue lines. If lucky, it may reach $117? A sell if it loses blue line.
Still a little early to call, but past bottom triangle patterns strongly suggest the chance is good. To confirm, we want the red resistances to be cleared. MACD has already been in the positive zone.
Working on consolidating and retesting. Next couple of weeks will tell if the breakout is valid. Be patient.
The weekly chart looks pretty good. One thing is not confirming is oil still did not break out. So I think I will be patient on this one until oil confirms it.
Positive signs: . MACD turns positive. . RSI breaks out. . Is able to stay above pink support for 4 weeks. . Closed above 10 week moving average. It will be better if it can clear the red and blue hurdles, and 10 week MA turns up in the coming weeks.
On pink support but I would not touch it until it breaks out.