65% trade planned - BASF share price analysisHello dear readers,
Today I would like to look at the dividend share BASF
Chart-technical assessment
- BASF is building a bottom and thus a trend reversal.
- Crossing the trend line and the last high are the first important steps.
- Within the next weeks/months, I expect the share price to initially approach the sell zone and then to undergo a strong correction to the buy zone.
- The subsequent rally should complete the bottoming and approach the target zone in a strong impulse movement.
The plan
- I do not want to start a short trade
- If the price approaches the buy zone, I would like to establish a long position here.
- The buy zone, just like the target zone, must be precisely adjusted later on. For this, a trend reversal towards the buy zone must first take place and the corresponding last high must be established.
- So far it is only a loose plan, updates of the idea will continue to be published by me here.
If you want to support my work I would be happy about a Like & Follow 🙏
Many greetings & success!
Chartdigger
