With global markets at or near record highs, asset managers should be considered beneficiaries of the environment, with their capital-light business models supporting profitability.
Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner.
Key Drivers:
- 9th attempt to breach downward trend line extending back to the peak of 01 April.
- 7-day RSI transitioning from neutral to bullish, with positive divergence and downward trend line breakout.
- Price attempting to break it's prior 6-day trading range.
Buy at current levels (2993c) or better.
Stop-loss: 2915c
Target Range: 3260c-3360c
Note: If you're concerned about the potential impact of the Fed minutes tonight then you could look to delay the purchase to gauge the market's reaction.
Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner.
Key Drivers:
- 9th attempt to breach downward trend line extending back to the peak of 01 April.
- 7-day RSI transitioning from neutral to bullish, with positive divergence and downward trend line breakout.
- Price attempting to break it's prior 6-day trading range.
Buy at current levels (2993c) or better.
Stop-loss: 2915c
Target Range: 3260c-3360c
Note: If you're concerned about the potential impact of the Fed minutes tonight then you could look to delay the purchase to gauge the market's reaction.
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.
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.