If the weekly 200MA holds today there may be a very good opportunity to catch a reversal trade in the stock.
The Earnings call last night was extremely negative and we were expecting a greater drop today.
The fact that technicals including MA's, Fibonacci and trend-lines have all acted as support we believe that a entry next week could be very rewarding. A similar level was recovered from previously as orders and outlook improved over the following quarters.
The Earnings call last night was extremely negative and we were expecting a greater drop today.
The fact that technicals including MA's, Fibonacci and trend-lines have all acted as support we believe that a entry next week could be very rewarding. A similar level was recovered from previously as orders and outlook improved over the following quarters.
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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.
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.