Looks if like we've found a bottom and may retest the high again or complete a Fibonacci retracement at least.
-- is what an investor in Salzgitter shares needed. Since the all-time high EUR 158.70 in July 2007 before the last financial crisis, the share price has only known one direction. DOWN Now the all-time low EUR 5.85 from November 2002 is not far away and is within reach. By the way, this was the second last financial crisis. So if Germany does not sink and...
I opened a short position on $SZG last week as 1D closed below DC20 and is reversing below MA20 to the downside - I am expecting the downtrend to continue to reach potentially ATL and/or determining target by a trailing stop. ATL is below 5.86. RSI is bearish, ATR and PVO is about to grow. SL is TBD and moving as is determined by DC20 - if daily closes above...
If Salzgitter could break the resistance Level @ ~ 38,7 a bigger breakout move can be exspected with a tp @ 46,6