Hi Guys, i think the chances for a longterm bullish setup here are quiet good. Bounced of longterm Fib-Retracement 61.8. Broken bearish trendlines, retesting them.
Possible 5th Elliot-Wave completed. Possible H&S forming. Longterm Mid-Trend-Channel-Resistance hit several times. Good Luck
CON had a huge drop recently. As a result RSI is in the oversold zone, and MACD will give buy signal soon.
P/E RATIO: 10.30 (considered low comparing to DAX index average P/E ratio)
Entry strategy: wait for bullish candle which cross the 163 price. Maybe we will need to wait a couple of days to see that confirmation candle on the chart.
SL: 152 (-6.7%)
TP: 181 (+11%)
in my strategy breakout and passing out of a major pivot is the beat sign for trend changing ...
uptrend...
nice candle and closing above trend line ....
triggered ...buy
sl =195
i dont set tp but if you are short trader so 206 is good
