Bearish potential detected for EDVDetected 17-May (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 17-May.
ASX:EDV represents a potential bearish opportunity should momentum continue and newer lows be made.
Entry conditions:
(i) lower share price along with swing up of bearish DMI indicator and swing down in RSI.
Stop loss for the trade would be:
(i) above the support/resistance level from the open of 1st May (i.e.: above $5.18), or
(i) above the support/resistance level from the open of 18th March (i.e.: above $5.22), depending on risk tolerance.