FRE Mean Reversion Short
Rally has moved to range-bound market on weekly chart since September 24. RSI near 70 on the daily, and although MACD looks slightly bullish, volume behind this latest move towards the upper channel line doesn't seem strong enough.
Short position near channel line with a tight stop (c. 1.0x ATR). Target is lower channel line, and if breakout to the lower side succeeds, until the next strong support at 30.7
Short position near channel line with a tight stop (c. 1.0x ATR). Target is lower channel line, and if breakout to the lower side succeeds, until the next strong support at 30.7
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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.