Uwe999

Uwe999

also close to the 61 Fibonacci retracement

Uwe999 Updated 

However, I would wait for a bullish reversal candle and also keep a close eye on a reversal in the XLB because utilities have been under a lot of pressure lately

Uwe999

Rising interest rates put utilities under pressure. Ideal scenario is a test of the 200 EMA with intraday reversal, bullish candle close and XLB showing some signs of bottom as well.

Uwe999

interesting S/R area - there is way too much momentum but if it reverses and closes with a bullish candle I'm happy to jump in

Uwe999 Updated 

still about 5% higher than the resistance but also offers higher reward if it moves higher

Uwe999 Updated 

I already got in a few days ago but it still looks like a good opportunity to hop on

Uwe999 Updated 

I got in a bit too early on Friday and stopped out today. Might try again

Uwe999 Updated 

Last low was lower than previous low but MACD-H wasn't as low as previously. MACD-H is on uptick completing signal

Uwe999 Updated 

support around 50 day MA

Uwe999 Updated 

looks promising if support holds

Uwe999 Updated 

don't try to catch a falling knife - that's what the long term chart would suggest. Short term there might be room for short correction and uptick. Not sure if the stock will react before the earnings release coming up.

Uwe999 Updated 

target 28-33

Uwe999 Updated 

great combination of solid support and 61.8 Fibonacci

Uwe999 Updated 

good risk/reward ratio, especially if it pulls back a tad more

Uwe999 Updated 

this trade worked well the last time, let's do it again. Goal 13.70-15.00

Uwe999 Updated 

If the right head doesn't form I could see it drop further to test support at 66.60 which also aligns with the long term trend channel

Uwe999

however, with earnings coming up I would wait a bit to not get more surprises to the down side