1COV • Covestro AG • XETRA LONG TF H1#1COV • Covestro AG • XETRA LONG TF H1,
TP = 51.31 , SL = 45.70
The trend continues, the nearest support level according to my calculations TP = 51.31
1COV added to model portfolioCovestro has just been added as a 12.5% position to our model portfolio.
Some comments:
1. 7/8 qualifiers of Minervini's trend template are met and the stock is in a confirmed phase 2 uptrend.
2. Stochastic RSI are indicating an entry coming our of an oversold position.
3. This is a pullback entry
Covestro (1COV) bullishCorrection seem over and wave 2 finalized
Now wave 3 of (3) seems to have started
Bullish till end of 2022 according to this analysis
The game is not over for covestroFriday bear run looks scary but I am optimistic about the paper and I would like to see the break of the ceiling. No targets since the bigger picture is set for something significant.
Buy Now CovestroAll my EMA´s are about to break through. So there will be a chance to take profits.
Bye
Covestro A.G. - interesting levels to watchCovestro AG is a German company which produces a variety of polyurethane and polycarbonate based raw materials. Price is at an interesting juntion. Since the recovery of price from pandemic levels, the price has rocketed up. Along the way, price has touched/breached the 50-day MA - four times so far
1COV (DAX) - EW analysis - C impulse up 1COV - It is in ABC zigzag up cycle from major low in 2 hr time frame. The 4th of C wave is about to start moving down as correction and one more up cycle is due to finish the whole sequence.
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