Bearish potential detected for CWYEntry conditions:
(i) lower share price for ASX:CWY along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $2.55.
Stop loss for the trade would be:
(i) above the resistance level from the open of 7th January (i.e.: above $2.64).
CWY
CWY.ASX_Down Trendline and Retracement Breakout Trade_LongENTRY: 2.63
SL: 2.52
TP: 2.87
- ADX>20
- RSI<50,RSI<70
- Daily RS -ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD -ve
- Breakout of down trendline and HVN with high volume on 19 Aug 2021. Retraced with lower volume after that to HVN.
- Buyers coming in on 27 Aug 2021.
- Would like a better closing today.
CWY - Possible Pullback in progressCWY has been going in a very good uptrend and appaently it seems that it has gone up quite far and facing some resistance. Hoping to see it retrace lower, ideally to the bullish trendline or towards the 200 SMA for a potential buy setup. I will see how it develops further if and when it comes lower for a pull back. My Buyzone is between $2.35 - $2.50, which is the trendline support area where I will be monitoring price action for a potential buy plan.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.