DT Telekom is trading in a channel since mid 2018.
Already took the opportunity before earnings riding it from the lower border to the upper where the RSI also reached it's previous high.
Switched to short at that level with a target and take profit to the previous support level @15.61
Due to the overall corona fear it broke this support and is now at the lower channel border again.
I believe in an immense bounce right here, the volume is still pretty high and the RSI reached a point where it bounced back quite often in history. In my opinion it will be heading back to the upper border.
Risk Reward Ratio is pretty good, will set my stop loss to 14.3, my take profit to 16.7.
Just like the two latest trading days markets might take a dip at open before it bounces back during the day.
So there might be a nice entry point at about 14.5.
Already took the opportunity before earnings riding it from the lower border to the upper where the RSI also reached it's previous high.
Switched to short at that level with a target and take profit to the previous support level @15.61
Due to the overall corona fear it broke this support and is now at the lower channel border again.
I believe in an immense bounce right here, the volume is still pretty high and the RSI reached a point where it bounced back quite often in history. In my opinion it will be heading back to the upper border.
Risk Reward Ratio is pretty good, will set my stop loss to 14.3, my take profit to 16.7.
Just like the two latest trading days markets might take a dip at open before it bounces back during the day.
So there might be a nice entry point at about 14.5.