WWE IdeaSimilar formations in green boxes allows conclusions to be drawn about prices future, another ascending triangle may form along this temporary up trendline, leading to more growth
Wrestlemania
WWE bounce back (Technical)I see clear support ($75) and resistance ($82) zones for WWE.
If we don't see some kind of buy/volume bounce-back, and we cross the $75 on a downtrend.
I would short if we brake the flag pattern (drawn in the chart).
On the other hand, if we start going higher and brake the $81.5 with confidence. I expect WWE to reach $100 again.
Long WWE - Technical/Fundamental confirmationsConfirming technical studies indicating an upper trend movement:
RSI (14) @55 from a longer uptrend.
SRSI (14) @.52
OBV @60,000.00 reaching for a big high
MACD (.78) is about to cross the MACDsl (.81)
Bollinger width is at a relatively low value indicating volatility coming up.
Fundamental:
We've seen 140+% growth from last march, as well as a 35+% growth since late November.
Wrestlemania 2019 is coming this Sunday 7th of April.
Recommended trade:
Entry @89.7
Sell target @94.8 (+5.6%)
Stop loss @86.5 (-3.7%)
RRR: 1.6
