Entry conditions:
(i) lower share price for
AFI along with swing of DMI indicator towards bearishness and RSI downwards, and
(ii) observing market reaction around the share price of $7.32 (open of 11th August).
Depending on risk tolerance, the stop loss for the trade would be:
(i) above the potential prior resistance of $7.50 from the open of 28th July, or
(ii) above the potential prior resistance of $7.57 from the open of 21st July, or
(iii) above the previous swing high of $7.68 from 31st July.
(i) lower share price for
AFI along with swing of DMI indicator towards bearishness and RSI downwards, and(ii) observing market reaction around the share price of $7.32 (open of 11th August).
Depending on risk tolerance, the stop loss for the trade would be:
(i) above the potential prior resistance of $7.50 from the open of 28th July, or
(ii) above the potential prior resistance of $7.57 from the open of 21st July, or
(iii) above the previous swing high of $7.68 from 31st July.
Note
UPDATE (week ending 29-Aug): Trade is setting up nicely with DMI indicator and RSI heading in the right direction along with the lower share price, however we aren't getting a full indication of the market reaction to the share price of $7.32 as of yet. Patience appears to be key as we obtain some more data of the extent of potential support of this area against the potential short aspect of the trade. The daily chart suggests to wait and see market reaction at the beginning of next week as price action churns through this area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Detailed commentary/updates about trades (stocks, crypto & bonds) available:
ivorywolf.start.page/ (Facebook / Telegram / YouTube / personal web-page)
Like/join/subscribe for the latest!
...
ivorywolf.start.page/ (Facebook / Telegram / YouTube / personal web-page)
Like/join/subscribe for the latest!
...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.