DNA displaying a popular window of opportunity in the December period.
S: @0.089 (conservative, last 4 hours of trade prior 31/12 close)
Volume still attractive.
RSI above 35 (however, capping at 70 showing overbought signals).
Proposed re-entry: @0.080
Proposed exit: @0.090
Similar breakout setup to CSCO and ADBE.
Adobe's leading out of the triangle, I suspect both MSFT and CSCO are gonna follow suit in strong way.
MSFT's an all around solid company, not much to say other than they have huge influence on the sector and aren't failing to innovate. Azure Cloud platform is challenging Bezos' cloud at AMZN, the Windows OS will be...
We have a beautiful "Evening/Shooting Star Doji" potentially screaming reversal here (especially coming on the back of several raising windows). If tomorrow is a down day then it is a confirmation. This is like a textbook example. Lets see what happens tomorrow.
Waiting for bullish confirmation on bounce off of windows support. 2 consecutive days close under channel support. Possible new channel support. Will be disregarding all bullish outlooks if Mondays close is under 06/16/17 and 06/01/17 window support.
The rate has been trending down since the start of the year and at the moment seems to be working on a descending triangle with a base at 112.55.
I will be looking at the falling trendline resistance which is also a resistance created by the falling gap. If we get a rejection here we’ll have a good risk reward for a short term downside trade to target...
Trade ideas are based on my anticipation of an inverse head and shoulders.
This should atleast help gaining some orientation for price action and time windows.
Make sure to check out my other charts for more information.
Feel free to leave comments or questions bellow and upvote this chart if this is usefull to you.
Cheers : ]