UPDATE- Pick and Pay's : From Descending Triangle to Bearish
Updated
Pick and pay
Pick and Pay's Market Outlook: From Descending Triangle to Bearish Sentiment
1. Price Formation: The price has broken from a descending triangle (An inverse Cup and Handle confirm bearish sentiment) price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21<200
5. Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further upward movement.
6. Price Target: 2150 Zcents
Pick and Pay's Market Outlook: From Descending Triangle to Bearish Sentiment
1. Price Formation: The price has broken from a descending triangle (An inverse Cup and Handle confirm bearish sentiment) price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21<200
5. Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further upward movement.
6. Price Target: 2150 Zcents
Trade closed: target reached
My CFD trade on Pick and Pay has reached its target with profits, the current technical analysis suggests that the stock may continue to exhibit bearish tendencies. However, it's important to remember that market conditions can change rapidly,
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.