CWEB starting to look better with this wedge breakout
I'd like to see a retest of the wedge for a safer entry or a consolidation for a few days above the green line around $12.35
The daily RSI has also broke resistance which is typically bullish.
Lately CWEB has been sold off after going above the 34 EMA, it has to stay above that to gain confidence in a long-term uptrend.
The daily RSI has also broke resistance which is typically bullish.
Lately CWEB has been sold off after going above the 34 EMA, it has to stay above that to gain confidence in a long-term uptrend.
Note
Today might have been the retest, but it still didn't go as low as I was targeting so I'm still waiting for now.Trade active
I like the bounce on CWEB here right in the area where I wanted to see a retest of the breakout so I have entered a position. Trade closed: target reached
Closed this trade as it is hitting resistance and slowing down. I will want to buy it back again after a pullback.
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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.