SGYP Bearish Divergence & Channel Top Rejection
Updated
SGYP has been in a downwards channel for nearly three months. The price made a potential move to break out, but rejected off the 200 hour MA. On this MA rejection and failure to breakout of the bearish channel a bearish divergence formed on both MACD and RSI.
Price targets are listed on the chart. Waiting for a resistance confirmation to enter the short position.
Price targets are listed on the chart. Waiting for a resistance confirmation to enter the short position.
Trade closed: stop reached
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