V looks prime for calls
Updated
V just came out of an double top trend and it looks to have a strong reversal
- In the past, V has respected the midline of the pitchfork as a resistance level
+ Fibonacci extension have resistance level at 245.28
+ According to pitchfork that would be around October 8
- V tends to respect the 4.618 fibonacci line
+ It bounced off it perfectly as a support level
+ At that same point V bounced off the 200 EMA - that indicates low risk high reward
- Using a fast moving MACD (5,35,5), the MACD line just crossed the signal line
+ The RSI is bouncing from 31.57 - the last time the RSI was that low was January 27, and afterwards was a pretty strong trend
- In the past, V has respected the midline of the pitchfork as a resistance level
+ Fibonacci extension have resistance level at 245.28
+ According to pitchfork that would be around October 8
- V tends to respect the 4.618 fibonacci line
+ It bounced off it perfectly as a support level
+ At that same point V bounced off the 200 EMA - that indicates low risk high reward
- Using a fast moving MACD (5,35,5), the MACD line just crossed the signal line
+ The RSI is bouncing from 31.57 - the last time the RSI was that low was January 27, and afterwards was a pretty strong trend
Note
If V falls [insert date] then its support level is [insert value]September 9: $228.09
September 10: $227.21
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.