Reasons for bullish bias:
- Basic DOW theory
- Positive earnings
- No divergence
Entry Level(CMP): 23
Stop Loss Level: 19.45
Take Profit Level 1: 26.55
Take Profit Level 2: Open
These 4 are my top Long ideas for today into the future until the price stays above the Green TrapZone.
The picks are based on momentum, volume and price action.
This monthly chart for American Eagle Outfitters ( AEO ) shows a clear non-logarithmic trend line that has continued throughout the history of the company's existence on the exchange (except briefly during COVID lockdowns). The green shaded area is a definite buy area for long-term investors. This linear trend held up during the Great Recession when 10% of the...
The past 3-months' pullback seems to confirm the bearish breakout.
RSI is currently just above 40, and a drop below 40 is needed to further confirm the breakout.
Stochastic is currently under 20, the pullback was so quick that the stochastics did not show a retracement.
