Telenor is currently in a bearish trend, but it's nearing the area where one should look to buy.
We have two significant horisontal supports. The first @ 156.75, and the second at 150.45.
The logic game plan for me, is to place equal bids at the two levels. Making the potential average cost 153.6.
TP 1: 180
(TP 2: 190)
We've had some positive price development lately, and it looks like the trend is turning bullish.
Golden cross MA50 above MA200 of course adds to our case.
Current resistance is at 142.5....Interested in an entry @ 136.1 marked by the yellow line.
Entra hitting new all time highs, here's a possible way to ride the trend at a 6% risk, setting stops below the wick at the last weekly candle.
Blackrock purchased stocks in Entra worth roughly $11m last week.
As we can see from the 1hr here, price bounced off support at 338 at decent volume. This indicates a switch in momentum to the north.
I see resistance at 370 as the target price. But be aware that 200MA will probably provide some resistance first, since it has been well respected in this downtrend.
NB: Entry, SL & TP is calculated from 338, price is now...
After the breakout, NHY now seems to be testing previous resistance levels as support at low 33s.
Bounced off MA50 and MA200, Golden Cross with same inputs.
Looks like its finally going to leave this inverse H&S pattern, and accelerate upwards.