This is the my second trade idea regarding Wacker Chemie AG (WCH).
After the first idea gave a nice ~ +27% gain and as WCH is currently in a strong downtrend, looking for zones to open a new position.
Overview
WCH is stuck in a range (This is the monthly chart). Breakouts of the range (yellow circles) on either site leads to price moving to the opposite...
General
WCH is currently in a no buy area for me as price approaching the top of the range with a big resistance zone. (red rectangle + Level 2).
I marked 2 buy zones where i would buy equally stocks for long term hold - therefor no SL (Stop- Loss).
First buy zone is based on the 50% of the range and a big s/r level.
Major buy zone is at the bottom of...
I think from the longer time perspective Wacker Chemie will go up. Every one should have this company in portfolio specially those who want to diversify from $ or £.
Daily chart support this
4 hours chart
5 minutes chart its a bit overbought but we think long term always
gloden spiral with trading blog
