To make it very simple,
Prices have been going up very nicely those last few weeks and months.
Everyone is happy but as we know that can't last.
OPEN seems to be the latest pump and dump and it's just another sign of a coming correction imho.
Most stocks I've been following have reached resistance zone, levels where profit taking is very likely.
$S&P500 seems to have made a fifth wave, RSI divergence is present and confirming that.
It's difficult to pinpoint the exact top of course so I'm giving myself some leeway and use a small 1% stop loss in this case.
Prices have been going up very nicely those last few weeks and months.
Everyone is happy but as we know that can't last.
OPEN seems to be the latest pump and dump and it's just another sign of a coming correction imho.Most stocks I've been following have reached resistance zone, levels where profit taking is very likely.
$S&P500 seems to have made a fifth wave, RSI divergence is present and confirming that.
It's difficult to pinpoint the exact top of course so I'm giving myself some leeway and use a small 1% stop loss in this case.
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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.
Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Thanks !
Questions? Chat or Comment on Ideas
Thanks !
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.