LordNelson
Long

FCA GMMA ANALYSIS: POSSIBLE UPTREND WAITING FOR A MA200 REBOUND

MIL:FCA   FIAT CHRYSLER AUTOMOBILES
GMMA crossover between 6.25-6.50 with strong momentum, with MACD in long position BUT RSI overbought way over 70 so opening a position would have been very risky... despite overbought price reached 6.79 before retracing so there was space for a gain but I thought there was too much risk for me buying with RSI at 74.

A strategy could be waiting for a retracement on MA200 and buy hoping for a rebound that could lead price towards April highs and resistance; take profit between 7.10-7.20 and I would put SL under MA70 at 5.85. RR is 2.29

This is the first time stock closes over MA 200 in over a year, so that could be a good long signal using MA200 as a long/short filter and as a dynamic support.
Trade active: Fca.mi looks very healthy with another positive day even with RSI >76; still waiting for price to approach MA200 and rebound.
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