Entry conditions:
(i) lower share price for
ABB along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $3.80 (from the open of 6th February) after closing below 50 day MA.
Stop loss for the trade would be, dependent of risk tolerance:
(i) above the resistance level from the open of 28th February (i.e.: above $4.00),
(ii) above the resistance level from the open of 12th February (i.e.: above $4.08), or
(iii) above the resistance level from the open of 24th February (i.e.: above $4.17).
(i) lower share price for
ABB along with swing up of the DMI indicators and swing down of the RSI indicator, and(ii) observation of market reaction at the support level at $3.80 (from the open of 6th February) after closing below 50 day MA.
Stop loss for the trade would be, dependent of risk tolerance:
(i) above the resistance level from the open of 28th February (i.e.: above $4.00),
(ii) above the resistance level from the open of 12th February (i.e.: above $4.08), or
(iii) above the resistance level from the open of 24th February (i.e.: above $4.17).
Trade active
UPDATE (week ending 11-Apr): For anyone who wished to undertake an aggressive trade after the sell-off that occurred in the stock on Monday 7th April, a trade entry signal did occur on Wednesday 9th April as the ADX increased (albeit slightly) whilst the -DI increased and the RSI decreased on the daily chart, all in respect of the $3.80 price level noted above. Do note, however, that this trade is based upon the 50/200 day MA's, and share price action has actually respected the 200 day MA to the upside during the trading week, which works against the trade thus far. As such, the charts are suggesting caution to tighten the stop to above the recent swing high of $4.10 from Thursday, which would work well in case of full respect of the 50 day MA.
Detailed commentary/updates about trades (stocks, crypto & bonds) available:
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youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
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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:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
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.