FAZ finally showing support on daily RSI
In late 2015 the an RSI downtrend line was broken. Where it was broken is now considered support so I drew a horizontal support line at the support. After months, it has finally reached this support. Great buy, and stock will continue to bounce off this support in the future. This is the first bounce, I would get in this one opportunity because the first several bounces are the strongest since people have not yet detected this insight. If the trend line breaks, which the majority are suspecting, I would sell short, because that means the current down trend from early 2016 is dominating the higher degree up trend. I think a lot of people will be short squeezed by this support though. I would sell anywhere from 50 to 53.
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