Some conflicting pieces of information here from my point of view.
On the Long-side:
1. Ascending Triangle (Purple Box & Hashed line) - often considered a bullish pattern
2. Convergence of 20 & 50 ema (Orange + Purple) - watching for a cross as a bullish signal
3. Strong fundamentals and DCF indicating an under valuation
On the Short-side:
1. Bearish convergence when considered with Stochastic oscillator (purple hashed)
2. Loss of momentum also indicated on MACD indicator (not show)
3.
4. In an industry/sector that most would agree is (and is going to continue) struggling
- Local Resistance ~$120
- 200 ema Support over last ~5 weeks (and trendline)
Watching for a breakout/close above $120.6 or below 200 ema (or hashed purple trendline)
Interested to hear your thoughts.
*Not financial advice*
On the Long-side:
1. Ascending Triangle (Purple Box & Hashed line) - often considered a bullish pattern
2. Convergence of 20 & 50 ema (Orange + Purple) - watching for a cross as a bullish signal
3. Strong fundamentals and DCF indicating an under valuation
On the Short-side:
1. Bearish convergence when considered with Stochastic oscillator (purple hashed)
2. Loss of momentum also indicated on MACD indicator (not show)
3.
4. In an industry/sector that most would agree is (and is going to continue) struggling
- Local Resistance ~$120
- 200 ema Support over last ~5 weeks (and trendline)
Watching for a breakout/close above $120.6 or below 200 ema (or hashed purple trendline)
Interested to hear your thoughts.
*Not financial advice*