UBSFF trade ideas
Ubisoft downtrend confirmation or island reversal?Ubisoft has been stuck in a downtrend for awhile now, an initial island can be observed and linked to the current downfall of this stock. Currently the price is trading within a downtrend, where a second island bottom is present, which may lead to a reversal at the immediate support zone. Overall the bearish momentum, outweighs the possible bullish factors.
After 4 days of fighting with the top, eventually Ubisoft fellUbisoft reached a high 4 days ago and signaled that it was over.
Traders rushed to open short positions and remained calmed and focus, waiting for the break..
This break came 4 days later, yesterday, when mid day it fell 4.5% from its peak
Entry: $94.7 (17/09)
Exit: $92.7 (19/09)
Return: 2.1%
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