REECE LIMITED - Time for a big dump? After A Nice year long bull run for REECE LIMITED, The bulls look to be taking profits and REECE LIMITED Looks to be running out of steam...
A 12 Month Cycle with 170% Gains the weekly RSI In heavily overbought territory.
I Feel we will start to see the the remarkable gains since the Covid Lows diminish not just on this stock but over the market in general. A lot of top heavy stocks in my opinion that are in need of a good correction.
I'm expecting some quick and sharp declines in the coming weeks Especially due to new Covid outbreaks across Australia.
My Position is Short here with a Long term outlook -
My targets are set! However I closely monitor trades and use tight stops so this can change very quickly as we all know, given the past week in the Crypto Space.
What are your thought's and targets?
Opinions and advice welcome :)
ALWAYS USE STOPS
Trade safe & Happy trading :)
I AM NOT A FINANCIAL ADVISOR, THESE ARE MY OPINIONS AND IDEAS AND ARE NOT TO BE DEEMED AS FINANCIAL ADVICE DO YOUR OWN RESEARCH - USE STOP LOSSES AND NEVER BET MORE THEN YOU CAN AFFORD.
100% OF MY TRADES ARE LOSERS IF I'M NOT PAYING ATTENTION -
