The stock has become over-bought rather quickly thanks to the recent rally. The rising price has taken the stock right back up to a rather strong resistance line that developed during that horrible May price plunge.
So what we are seeing now is a price that is over-bought at resistance...that is a sell signal.
Here's the levels I've got in for my clients
Sell (short) DCP (CFD) 33.70/33.95
Stop loss 35.20
Profit target 30.10
So what we are seeing now is a price that is over-bought at resistance...that is a sell signal.
Here's the levels I've got in for my clients
Sell (short) DCP (CFD) 33.70/33.95
Stop loss 35.20
Profit target 30.10
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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.