Two KEY trading concept in one exampleMultiple Timeframe Analysis and Support Turned Resistance are two price action analysis techniques with which all traders should make themselves familiar.
Multiple Timeframe Analysis SIMPLIFIES going through many instruments looking for opportunity. This will make analysis easier on your brain! It can also greatly increase profit rewards with more ambitious long term targets.
Support Turned Resistance is something traders must train their brain to see but can also be aided by looking farther back on a chart.
Users on my social media inspired these questions with an example in the stock NYSE:HXL ... keep active even in these slow markets!
HXL
HXL - Hexcel Corp - Be Careful of Earnings Jan25th (aftermarket)HXL - Hexcel Corp
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Entry = break above 786fib @ 49.95
or breakdown to 382fib @ 36.98
1st Target = 56
2nd Target = 64
HODL Target = 76+
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This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
HXL - Carbon Fiber 🆙HEXCEL CORPORATION (HXL) Looks like a GREAT BUY to us.
Carbon fiber, aka graphite fiber, is a strong, stiff, lightweight material that has the potential to replace steel and is popularly used in specialized, high-performance products like aircrafts, racecars and sporting equipment.Carbon fiber is five-times stronger than steel and twice as stiff.