Allianz Technology Trust PlcOn the above 2-week chart price action has appreciated 1600% since the life cross back in September 2009. A number of reasons now exist to be short, including:
1) A sell signal has printed (shown on 4 month chart below).
2) Confirmed regular bearish divergence.
3) The ‘pi-cycle’ market cycle top alert has trigged, indicating an end to this cycle.
4) The 4-month chart prints a significant bearish engulfing candle.
5) The last time a death cross printed on the 2-week chart price action corrected 75%. The would take price action to 75, which was the previous market top in 2000
Is it possible price action falls further? For sure.
Is it probable? No.
A short from 250 is excellent.
Ww
Type: trade
Risk: n/a
Duration: 2 years
Return: n/a
4 month chart
