RHM | Command and Conquer | 1 Buy scenario
Overview
Rheinmetall had a great run specially fueled by the war in Ukraine. With an additional crisis forming in the Middle East i can see the price going further up. From a chart point we see that the current resistance (100% Fib Line) was 2 times pierced (yellow circle) but price never really broke it.
The Buy zone is based on the confluence of the 50% Fib level and an already engulfed (blue circle) support level that lead to the current ATH / Swinghigh.
Target 1: The First big resistance level (S/R Level 1) which stopped this really for quite some time. I would close 50% of the position here.
Target 2: Slightly below the former Swinghigh / ATH. The remaining 50% of the position would be closed here
Stop- Loss: None (Long- term- holding
Invalidation: Price always stay above the buy zone
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for entertainment purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh
Rheinmetall had a great run specially fueled by the war in Ukraine. With an additional crisis forming in the Middle East i can see the price going further up. From a chart point we see that the current resistance (100% Fib Line) was 2 times pierced (yellow circle) but price never really broke it.
The Buy zone is based on the confluence of the 50% Fib level and an already engulfed (blue circle) support level that lead to the current ATH / Swinghigh.
Target 1: The First big resistance level (S/R Level 1) which stopped this really for quite some time. I would close 50% of the position here.
Target 2: Slightly below the former Swinghigh / ATH. The remaining 50% of the position would be closed here
Stop- Loss: None (Long- term- holding
Invalidation: Price always stay above the buy zone
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for entertainment purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh
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.