Great Buying Opportunity...
Updated
We're sitting right on a major support level for the Q's and at 50% retracement. Pick your poison:
Long - Currently oversold, and saw a good bounce off 169.24 today. Expect a potential run up to the green box. Stop/Loss on a brake of today's lows on volume.
Short - Don't really see any form of support until $160 if $169 breaks. If it does break with conviction, A hard sell-off straight down to 160 could happen.
Overall, I'd expect expect short term bullishness just based on the amount of support and being oversold, but a 33% up run in 5 months...There's nothing pretty about the way down if we are entering a bear market. A lot of big tech names with ugly charts. Breaking these levels could scare a lot of people, and we could go down in a hurry, so be careful and keep those stop/losses tight.
*NOT Trade advice, do your own analysis.
Long - Currently oversold, and saw a good bounce off 169.24 today. Expect a potential run up to the green box. Stop/Loss on a brake of today's lows on volume.
Short - Don't really see any form of support until $160 if $169 breaks. If it does break with conviction, A hard sell-off straight down to 160 could happen.
Overall, I'd expect expect short term bullishness just based on the amount of support and being oversold, but a 33% up run in 5 months...There's nothing pretty about the way down if we are entering a bear market. A lot of big tech names with ugly charts. Breaking these levels could scare a lot of people, and we could go down in a hurry, so be careful and keep those stop/losses tight.
*NOT Trade advice, do your own analysis.
Note
Note
Watch for a rejection/break of the red line as well to confirm further direction.
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