SeagateStock has broken its downtrend.
Above 200d moving average.
What I like: Stock has stabilised above the moving average for almost one month and is now ready for the next step.
Fundamentally: Harddisk remains the number one source for saving data - because it is the cheapest...and data volumes continue to grow, as well as the need for backups, etc.
Happy Trading
S1TX34 trade ideas
Seagate Tech falling knifeFalling knife. Tanked from almost $70 now down to $19.
Joining the bottoms from 2009 and 2011's low we could be sat on potential support at current level (note 18.50 the 2011 high)
A whole bunch of gaps to fill above 19.75, 21.35, 26.50, 33.77, 47.57
Keeping an eye out for a bounce to try to catch the knife !!!
RRR of +2: 10% win vs 5% potential loss on STX- After trying to establish a new downtrend the plunge stops on point " 1 ".
- From there we went back into the trading range " a/b " and tested the upper line.
- From there we went back to the supportlin " b " (potential axisline).
- Here we formed out a SPRING . It it likely that the price moves back to the upper side of the trading range.
- Today bar is also an ODR (One Day Rerversal)