Entry conditions:
(i) higher share price for
WDS along with swing up of the DMI indicators and swing up of the RSI indicator, and
(ii) observation of market reaction at the support/resistance level at $24.87 (from the open of 14th February).
Stop loss for the trade would be, dependent of risk tolerance (once the trade is activated):
(i) below the support level from the open of 15th July (i.e.: below $23.95), or
(ii) below the recent swing low of 30th June (i.e.: below $23.24).
NOTE: Positive momentum move on 23rd July already in play (suggested not to chase this initial move and await a retracement back towards the support/resistance level of $24.87 and observe the market reaction - potentially overbought with resistance above current price area of $26.20 as at 25th July). If the move keeps going, let it go.
(i) higher share price for
WDS along with swing up of the DMI indicators and swing up of the RSI indicator, and(ii) observation of market reaction at the support/resistance level at $24.87 (from the open of 14th February).
Stop loss for the trade would be, dependent of risk tolerance (once the trade is activated):
(i) below the support level from the open of 15th July (i.e.: below $23.95), or
(ii) below the recent swing low of 30th June (i.e.: below $23.24).
NOTE: Positive momentum move on 23rd July already in play (suggested not to chase this initial move and await a retracement back towards the support/resistance level of $24.87 and observe the market reaction - potentially overbought with resistance above current price area of $26.20 as at 25th July). If the move keeps going, let it go.
Note
UPDATE (week ending 01-Aug): Positive momentum price action continued throughout the week and appears to be respecting the prior resistance (now support) area of $26.30 formed from the open of 16th June. In the unlikely event that this area fails to provide support, look for potential support around $26.07 (the open of 23rd June, which is the day prior to the gap-down) or $25.34 (the low of the prior retracement from 16th June on the daily chart) for possible entry points, considering the continuing strength. Coverage ceased.
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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.