DBD hits resistance and may make a $2 pull back towards support
Updated
DBD price has been an earnings roller coaster wild horse.
Price moved up from 10 to 14 back in late July. 40%
Then moved down from 10.3 to 6.5 in October. 35%
On Dec 12 a 1.50 price gap was filled with price moving up to hug a upper price channel.
Two months into the price channel I see price preparing to have a natural pull back of 2 dollars.
With price hitting upward resistance, divergence with stochastic and recent higher prices near 13
RSI looks like it too wants to start a turn downward.
Previous falls from $13 resistance have measured near 3 dollar moves. Support and lower price channel would be 2 dollars lower near 10.40 area.
Short trade to start at 12.40 with 10.40 target. SL 12.95
Dr.RAV
TRADE to win/Trend is your friend...MANAGE the risk/Make your success
Price moved up from 10 to 14 back in late July. 40%
Then moved down from 10.3 to 6.5 in October. 35%
On Dec 12 a 1.50 price gap was filled with price moving up to hug a upper price channel.
Two months into the price channel I see price preparing to have a natural pull back of 2 dollars.
With price hitting upward resistance, divergence with stochastic and recent higher prices near 13
RSI looks like it too wants to start a turn downward.
Previous falls from $13 resistance have measured near 3 dollar moves. Support and lower price channel would be 2 dollars lower near 10.40 area.
Short trade to start at 12.40 with 10.40 target. SL 12.95
Dr.RAV
TRADE to win/Trend is your friend...MANAGE the risk/Make your success
Trade closed: target reached
Short trade hit 10.40 target today.... I'll take it...will watch this for set up to go long again.
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.