Support level:
Currently trading just above a strong support level.
Ichimoku cloud:
Vra is currently trading below a red cloud indicating only short positions should be taken. The conversion and base line is showing no sign of a swift change in momentum. The lagging span is still currently below the price indicating further bearish sentiment.
Bearish pennant:
Price had a sharp downtrend creating the flag pole of the pennant. Vra currently seems to be trading in a triangle which finishes off the pennant.
Macd:
Shows weak bullish sentiment as bulls fail to drive up price.
Swing trade analysis:
Entering a trade on the bullish side right now would be extremely risky do to recent high volume in selling. Personally, I would enter a trade short if there is a break in the bearish pennant to the downside past the support level ( entrance would be at support). A stop loss would be set at .025 to mitigate risk and loss if the trade happens to go the other way.
Currently trading just above a strong support level.
Ichimoku cloud:
Vra is currently trading below a red cloud indicating only short positions should be taken. The conversion and base line is showing no sign of a swift change in momentum. The lagging span is still currently below the price indicating further bearish sentiment.
Bearish pennant:
Price had a sharp downtrend creating the flag pole of the pennant. Vra currently seems to be trading in a triangle which finishes off the pennant.
Macd:
Shows weak bullish sentiment as bulls fail to drive up price.
Swing trade analysis:
Entering a trade on the bullish side right now would be extremely risky do to recent high volume in selling. Personally, I would enter a trade short if there is a break in the bearish pennant to the downside past the support level ( entrance would be at support). A stop loss would be set at .025 to mitigate risk and loss if the trade happens to go the other way.
Comment:
Analysis and trade played out perfectly with vra breaking below the pennant.