It has potential, price dipped for three days+ now. been through three impulsive downs, EMA 20 broke above EMA 50 just a month ago.
Bullish overall. Entry around 147https://www.tradingview.com/x/XMwmxQtG/
I like this stock and this is why:
The stock bounced at a very nice support line.
The candle looked great for a potential bullish move.
When you see a big gap on good earnings, you usually see a retracement and this is what happened last week and after that the stock may continue his previous uptrend move and this is what im expecting.
There is also the 10EMA who...
The trade is in the direction of the trend: descending impulse with potential wedge pattern. It is also supported with RSI14 and Stochastic Bearish Crossover. I have 2 different target scenario for your convenience.
Do you like it?
Gap down..and now? The day after the deep dip was bullish. The down-dynamic did not increase - thats a first wek bullish Signal, perhaps the downmove was just a exxageration? Will the fibo-Cluster be the area where we see a Turnaround? If i watch the Chart -that could be possible...let`s see! RSI signs a very weak longsignal.
If Cummins could bomb away the resistance @ 120$ (Action Point No. 1) , the way up to Action Point No 2 @ 124 $ is opened.
Above 124$ a strong buy-Signal would be initiated, the maintrend since 03/2014 would be overcomed.
Will Action Point no 1 not be bought directly, a dip to the former low @ 106$ should be exspected. Prices below 104$ are bearish.
Thats just my...
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