CNERGEN trade ideas
CNERGEN - OS, may continue OSRegardless we are traders or investors, should know to look for the trend and what is Oversold (OS) n Overbought.
For this round, like CNERGEN, when it started form first LH and indicators heading to OS area, we should foresee it's downtrend in making.
What OS means (for me):
>> day trade with lesser profit (best is skip).
>> lower will getting lower (loser will keep losing).
>> CL ASAP (or at the next LH, if any, much depend on own strategy).
>> those keep thinking buy at OS is good, buy red is good, keep averaging down for month (seems familiar and happen to you?).
On the contradiction, OB will continue the OB trend, in which majority will think sky is falling down (usually won't). And it only happen on the next moment when they press to buy button (FOMO).
..... To be continue on next OB chart soon.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
Rebound From Support Range!The candlestick pattern indicates the price has rebound from the price support range. Where the price gains momentum towards the R1. Although there was a significant price movement the result in volume is lower than the average volume. Hence, indicate an accumulated phase pattern but suggests that the long-term uptrend remains intact.
The MACD is in a divergence signal, thus, conforming with the candlestick trendline.
Let's save CNERGEN in WL and watch out for significant price movement with the volume above the average volume.
R 0.965
S 0.865
CNERGEN - New Chart Pattern Analysis CNERGEN break out Triangle Pattern on 27 Sep 2022 with more than average volume.
The price retested resistance line on 3 Oct 2022.
Short/medium term potential target price @ 1.240
Disclaimer:
This is intended to be used and must be used for technical analysis education purposes only. Trade at your own risk.
