Waiting for decision.
Coming close to a decision point around 14.40
If it will turnover here maybe possible to make some money but generally each rise in the stock price is for another fall until proved otherwise.
Move down to 17 with triangle forming
Long term downtrend
Wave 4 pattern retraces to 50% of 3 and all triangle letters fall into fibo numbers
Stop at 20.70
- Long term downtrend still strong
- Ending wave 5 down
- Bear range in RSI
- Triangle correction with thrust down
- Stop at 20.60 (high of wave A) with target to 16-16.50
- 4:1 Reward to Risk
www.stocksetups.com
Looking for one more push down.
A small entry would be wise here but would
take a full position as soon as the stochastics
push a bit lower.
Please fix the label as "LONG" instead of "NEUTRAL". Thank you.
PBR has had a long bear market this year, falling from over $32 to under $18 along with a massive slide in the Brazilian stock market. PBR is a major element of the Brazilian stock market.
The sellers have knocked down the price of PBR to bargain-basement levels, but it has been like a falling...
