Anticipate bounce of long term trend line
1cov.de dropping more. following downtrend.
After this relatively big earnings sell off I am expecting a bounce from the {purple} support line, that has held well since the breakout from the falling channel a couple of months ago. Today (02.05.19) we breached this support line on the close, nonetheless I still think it will respect this underside resistance (at least short term). Compared to competitors the...
It successfully broke out of the downtrend and tries to push higher. For a parabolic move higher we need to break the red line above. Key support is the purple trend line. Be careful backtest of the upper line of the downtrend likely if it breaks (purple) support or bad news! Have a great DAY and GAINS