CNU trade ideas
Short CNUDue to oversees market its still risk on, form a top down analysis for the communication sector is sitting on res as we speak with a bull shooting star follow by a bear hanging man. This is why i'm looking for a short to the downside with CNU, both daily and weekly are showing strength to the upside confirming with 13 and 50 EMA and MACD. This could lead to a counter trade to the area of $5.45, it also showing a massive red candle both on daily and weekly just outside BB as well.
CNU to benefit from sector strength-9 Week horizontal range
-Strong telecom sector with a lot of focus on the largest market share stock TLS, could help push this up
-Earnings on 27th so the later into the week the setup takes to follow through, the less likely I will be to enter
-Measured move to 4.22
Will wait for a daily low to set a stop against and will look to place orders for tuesday if R/R is good