Huge wick/Hammer + Volume spike off of the 200 day SMA today - Could this indicate the short term bottom for Orsted?
Again just to keep track of my own investment
Since my last update, Orsted has been sitting just under the Support at the High Volume Node, and also been shaping what seems to be a double bottom on the 4-hour chart. On a bit longer term it also shaped a bearflag/bearpennant, which should be rejected due to higher time frame trend such a's long term EMA's & RSI. Currently a hammer-candle is present on the...
Wanted to share this chart since it looks beautiful, just don't like the low volume on OTC. Looking at GCTAY instead 51.50 Support 56.75 Break Over 60.00 for the full reversal. Renewable energy makes this a good hold with minimal downside.
This seems to be matter of short time before investors run for ØRSTED again - ESG-funds have massive money-inflows to invest. ØRSTED is one og the best pue play ESG companies.
Seems like it's make or break time - a lower low would establish a beartrend since the uptrend would be broken. A bounce off of the high volume area would continue the uptrend. Bear time if the price drops below 1025.5 in my opinion
The price has corrected 25% from ATH and it is equal to the correction it went through in the March crash. A solid company that missed earnings. A buy for me for the long-term.
Normally I would look for a buy close to the uptrend. In this situation the support between 1072 DKK and 1056 DKK seems solid enough to enter the trade a but more aggressively. I have a by order at 1064.5 DKK.
After the previous profittaking I was waiting for a correction to buy again but there was none. The rise seems to be unlimited. Now we've got a new high and the momentum keeps growing.
After the correction money is coming back into this stock.
Having gone a good way already the momentum is still high enough though.
This entry and SL is based on my technical analysis only. Do your research and trade on your own risk!
Orsted long opportunity if it breaks the green supportline.
Strong overbought on RSI Moving averages looking good Strong MACD The stock have to make a minor breathe down to 970 area. Long term strong stock.
It's approaching a resistance zone and we expect it to reverse and go down to the first support shown on the chart
Having made the all time high at the beginning of June, Orsted has been consolidating for the whole month to have another crack at the ceiling. It's now breaking out and will go easily beyond 800.
OMXCOP:ORSTED DISCLAIMER. This analysis is made to help and give you an idea of what opportunities could be in Orsted. I don't take any responsibility's for your loss of money based on my Analysis! ...