Wartsila possible bull movement
Updated
Hello!
The first "real" stock I have ever bought. Wuhuu! (for long term) 5th of january 2021
Had to make a small analysis about it ;)
Okay. So we can see from the left chart (weekly) how we have been under this supressing trend line from the year 2018, 30th of july. Price hit the trend line 4 times and the fifth time broke it. Atleast for now.
RSI has given us also this beatiful price action and a trend line which had been hit 4 times. Right now we can see from the chart that fifth hit seems like it's going to break it, so the trend might turn to bull.
On the right chart (daily) we can see 200 ema (red line) under the price and how the price used it as a support (other than before). RSI did also break the short time downward trend line.
This also gives me a bullish view. If we break them we might go lower.
(left picture) First target we need to break is that 9 euro resistance then we get good space maybe move towards 11,3 euro where there is again 200 ema waiting on us.
I don't think this is a good stock to trade, or maybe it is, but if you do take TRADES always use stop loss!
Otherwise you will get your ass burned.
-Jebu
The first "real" stock I have ever bought. Wuhuu! (for long term) 5th of january 2021
Had to make a small analysis about it ;)
Okay. So we can see from the left chart (weekly) how we have been under this supressing trend line from the year 2018, 30th of july. Price hit the trend line 4 times and the fifth time broke it. Atleast for now.
RSI has given us also this beatiful price action and a trend line which had been hit 4 times. Right now we can see from the chart that fifth hit seems like it's going to break it, so the trend might turn to bull.
On the right chart (daily) we can see 200 ema (red line) under the price and how the price used it as a support (other than before). RSI did also break the short time downward trend line.
This also gives me a bullish view. If we break them we might go lower.
(left picture) First target we need to break is that 9 euro resistance then we get good space maybe move towards 11,3 euro where there is again 200 ema waiting on us.
I don't think this is a good stock to trade, or maybe it is, but if you do take TRADES always use stop loss!
Otherwise you will get your ass burned.
-Jebu
Note
Okay. So here we are zoomed in to 4hr time frame. [upper picture (daily chart) on top of 200 ema].
There is Head and shoulder pattern (3 red marks) which would show the first target around 9,1 eur.
We can see from the chart the same RSI resistance line as on the daily but also price action closer by.
The price has broke the resistance and has used it as a support and found buyers there again.
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