Warning, it's a 120 minutes chart, so the idea is for a short term trade!
The idea is heavily counter-trend, so to use with cautious. Counter trend is for people with solid nerves, able to get multiple loss in a row without getting mad ;).
The R/R ratio is great here, the risk is $1.11/share for a $3.54/share ...
The channel was broken last week, but the MACBB was neutral so it was a bit too early to go short.
Now it's maybe a bit late and then a bit risky, the R/R ratio is not as good as it was earlier, but to be tried!
That was a long rally, but the $68-$72 zone seems to be a powerful resistance.
The uptrend channel have been broken, two bearish patterns in the last few days, MACD below it BB, it's now safe to short.
It's easier to see the 1.68 resistance on a weekly or a monthly chart, but it's here and it's a strong one!
A bit early today to enter short, we can stay in this choppy zone for a while, but the risk/reward ratio is great, the stop loss easy to find, so worth a look during the next days.
The uptrend channel seems to end, it's now a good time to short with a good risk/reward ratio.
Our MACDBB still positive but did cross his lower Bolligner Band, so the short is valid.
The SuperTrend still positive, but it should change its polarity soon, and then act as a trailing stop.
Sell Stop around $35.89, ...
Not easy to enter Long after a 13 months rally, but when the conditions are here, you have to.
SuperTrend is up, MACDBB is up, and interesting price action for the last few days.
Good R/R ratio, with a potential entry few cents above yesterday's high @ 84.52, stop at yesterday's low @ 83.28.
The target is more ...