Current Price Levels:
Current Price: Around $258.18 (ask price)
Bid Price: $258.10
High: $271.00
Low: $231.90
Support and Resistance Levels:
Resistance:
$258.14 (current consolidation area)
$271.00 (recent high)
Support:
$249.89 (POC and strong support level)
$241.10 (another support level)
$231.90 (recent low)
Volume Profile:
POC (Point of Control): $249.89
Significant trading activity around $258.00 and $249.89.
Trend Lines and EMAs:
Moving Average (Purple Line): Acts as a long-term trend indicator and dynamic support/resistance.
Moving Average (Green Line): Represents short-term momentum and can be used to identify potential entry/exit points.
The price is currently below the purple line, indicating a bearish longer-term trend. However, the recent bounce suggests a potential reversal.
Indicators:
Volume: Increased volume during the downward movement indicates strong selling pressure.
Moving Averages: The yellow line has crossed above the price, suggesting short-term bullish momentum.
Price Action Analysis:
Bearish to Potential Reversal: The stock has been in a downward trend but shows signs of potential reversal with the price bouncing off lower support levels and the moving average line crossing above the price.
Price Consolidation: The price is currently consolidating around $258.00, indicating potential accumulation before the next move.
Suggested Trading Strategies:
Scalping:
Entry: Consider entering around $258.14 (current consolidation area) or on a pullback to $249.89 (POC and support level).
Exit: Target $260.00 (near-term resistance) or $265.00 if momentum continues.
Stop Loss: Place a stop loss below $249.89 to manage risk.
Intraday Trading:
Entry: Enter around $258.14 (current consolidation area) or on a pullback to $249.89 (POC and support level).
Exit: Target $265.00 (resistance level) or $271.00 if bullish momentum continues.
Stop Loss: Place a stop loss below $249.89.
Swing Trading:
Entry: Consider entering around $249.89 (POC and support level) or on a pullback to $241.10.
Exit: Target $265.00, $271.00, and potentially $280.00 if the bullish reversal is confirmed.
Stop Loss: Place a stop loss below $241.10 to manage risk.
Summary:
Support Levels: $249.89, $241.10, and $231.90
Resistance Levels: $258.14, $265.00, and $271.00
Scalping Entry/Exit: Enter around $258.14, exit around $260.00 or $265.00
Intraday Entry/Exit: Enter around $258.14 or $249.89, exit around $265.00 or $271.00
Swing Trading Entry/Exit: Enter around $249.89 or $241.10, exit around $265.00, $271.00, or higher
Use these levels as guides, and always consider current market conditions and news events before making trading decisions.
Current Price: Around $258.18 (ask price)
Bid Price: $258.10
High: $271.00
Low: $231.90
Support and Resistance Levels:
Resistance:
$258.14 (current consolidation area)
$271.00 (recent high)
Support:
$249.89 (POC and strong support level)
$241.10 (another support level)
$231.90 (recent low)
Volume Profile:
POC (Point of Control): $249.89
Significant trading activity around $258.00 and $249.89.
Trend Lines and EMAs:
Moving Average (Purple Line): Acts as a long-term trend indicator and dynamic support/resistance.
Moving Average (Green Line): Represents short-term momentum and can be used to identify potential entry/exit points.
The price is currently below the purple line, indicating a bearish longer-term trend. However, the recent bounce suggests a potential reversal.
Indicators:
Volume: Increased volume during the downward movement indicates strong selling pressure.
Moving Averages: The yellow line has crossed above the price, suggesting short-term bullish momentum.
Price Action Analysis:
Bearish to Potential Reversal: The stock has been in a downward trend but shows signs of potential reversal with the price bouncing off lower support levels and the moving average line crossing above the price.
Price Consolidation: The price is currently consolidating around $258.00, indicating potential accumulation before the next move.
Suggested Trading Strategies:
Scalping:
Entry: Consider entering around $258.14 (current consolidation area) or on a pullback to $249.89 (POC and support level).
Exit: Target $260.00 (near-term resistance) or $265.00 if momentum continues.
Stop Loss: Place a stop loss below $249.89 to manage risk.
Intraday Trading:
Entry: Enter around $258.14 (current consolidation area) or on a pullback to $249.89 (POC and support level).
Exit: Target $265.00 (resistance level) or $271.00 if bullish momentum continues.
Stop Loss: Place a stop loss below $249.89.
Swing Trading:
Entry: Consider entering around $249.89 (POC and support level) or on a pullback to $241.10.
Exit: Target $265.00, $271.00, and potentially $280.00 if the bullish reversal is confirmed.
Stop Loss: Place a stop loss below $241.10 to manage risk.
Summary:
Support Levels: $249.89, $241.10, and $231.90
Resistance Levels: $258.14, $265.00, and $271.00
Scalping Entry/Exit: Enter around $258.14, exit around $260.00 or $265.00
Intraday Entry/Exit: Enter around $258.14 or $249.89, exit around $265.00 or $271.00
Swing Trading Entry/Exit: Enter around $249.89 or $241.10, exit around $265.00, $271.00, or higher
Use these levels as guides, and always consider current market conditions and news events before making trading decisions.
Note
Exit scalping & intraday positions to secure the profit. Swing trading can remain for 2nd targetNote
All target hit.
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.