Bearish Trend Continuation Indications:
1. Bullish Trendline is broken
2. Has been consolidating below the trendline since ten trading sessions.
3. Unable to break above the trendline and close.
4. It did try to move up but was unable to sustain above once, and then fell below.
Scenario 1.
I would be comfortable to buy once it reaches the Buy Zone between $11.22 and $11.95 and shows Bullish Price Action.
Scenario 2.
I would buy when it closes above the swing high trendline for atleast two consecutive days to show that Bulls have regained control.
P.S. My target would be $20.00 level (Previous Resistance), which would be 60% gain.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
1. Bullish Trendline is broken
2. Has been consolidating below the trendline since ten trading sessions.
3. Unable to break above the trendline and close.
4. It did try to move up but was unable to sustain above once, and then fell below.
Scenario 1.
I would be comfortable to buy once it reaches the Buy Zone between $11.22 and $11.95 and shows Bullish Price Action.
Scenario 2.
I would buy when it closes above the swing high trendline for atleast two consecutive days to show that Bulls have regained control.
P.S. My target would be $20.00 level (Previous Resistance), which would be 60% gain.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Note
A2M closed bearish today.Note
A2M in consolidation mode.Note
The Support Zone of $8.00 - $9.00 is very critical, where price got supported before, continued higher and made higher highs. Now that the stock has been dumped but I do not expect this critical and strong level of $8.00 - $9.00 to break, which means that I am Bullish now but at the same time I do not expect price to rise immediately. I think price may consolidate and coil to form more energy to pump up. This kind of Price Behavior is healthy for an uptrend to continue.Note
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A2M is consolidating in the $9.70 and $10.50 range for now. If this range is broken to the downside, i expect the $8.00 - $9.00 Support Zone to come in to play which is an extremely Critical Support Zone. Lets see what it does.Note
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A2M is looking good to me. We can see a strong green Bullish Green Bar, Good Volume, MACD Cross, RSI popping out of the Oversold Zone. Everything looking positive now for a buy position. I expect it to bounce upto $13.10 level (Support Now Turned Resistance).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.