BCE bounce off of 200 SMA after 2x jump up and corridor down
Hello Traders!
The price of BCE Inc has moved in fast bullish jumps and slow bearish corridors for two times in a row now. The 200 SMA has already acted as a resistance in June and it is reasonable to believe it will act this way for the next jump as well, which is just about to happen. The first goal for a short position is the 41.83 support/resistance and the second one is 40.29. The RSI 14 is dead-centered but the MACD looks like it is about to cross under the 9 EMA, but at some point in the very near future, the price will definitely bounce off of the 200 SMA.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
The price of BCE Inc has moved in fast bullish jumps and slow bearish corridors for two times in a row now. The 200 SMA has already acted as a resistance in June and it is reasonable to believe it will act this way for the next jump as well, which is just about to happen. The first goal for a short position is the 41.83 support/resistance and the second one is 40.29. The RSI 14 is dead-centered but the MACD looks like it is about to cross under the 9 EMA, but at some point in the very near future, the price will definitely bounce off of the 200 SMA.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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