- Stock has moved up powerfully off the 18th of March low taking out the recent high of February.
- A bearish engulfing candle that has formed which indicates the the bears have now managed to get the upperhand so the area will likely form a resistance level. (Tencent is also down this morning in th Asian session)
- The question is how much of a pull back will be possible here before the buyers step in. (Perhaps 20ma)
- Any short will be scalps as the chart still looks bullish and fundamentals are good. The pullback could give an opportunity to enter long again!
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NPN
- A bearish engulfing candle that has formed which indicates the the bears have now managed to get the upperhand so the area will likely form a resistance level. (Tencent is also down this morning in th Asian session)
- The question is how much of a pull back will be possible here before the buyers step in. (Perhaps 20ma)
- Any short will be scalps as the chart still looks bullish and fundamentals are good. The pullback could give an opportunity to enter long again!
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NPN
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.
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.