EasyJet - 30d expiry - We look to Buy at 353.1 (stop at 329.8)
A lower correction is expected.
Short term RSI is moving lower.
A higher correction is expected.
Bespoke support is located at 350.
We look to buy dips.
338 has been pivotal.
The 50 day moving average should provide support at 352.
Our profit targets will be 409.8 and 419.8
Resistance: 430...
EasyJet
Medium Term
We look to Buy at 385.00 (stop at 364.00)
Previous support located at 385.00. The medium term bias remains bearish. We are trading at oversold extremes. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 489.00 and 565.00
Resistance: 500.00 / 581.00 /...
EasyJet - Short Term - We look to Buy at 651.8 (stop at 610.0)
Preferred trade is to buy on dips. Previous resistance, now becomes support at 650.00. The bias is still for higher levels and we look for any dips to be limited. The medium term bias remains bullish. 20 1day EMA is at 635.00. We look for a temporary move lower.
Our profit targets will be 797.8...
A potential reversal on the weekly time frame to be confirmed by a weekly close above 657 resistance that corresponds to the 38.2% Fibonacci retracement level, and the 50 EMA as well.
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💡 EZJ technically based idea, we can see price is bounce from bottom trend line, break of structure visible, technically indicators...
This has retraced nicely to 0.5 Fibonacci after testing the previous high. It has since risen and found support at 0.382 Fib as well and is looking good to continue to rise now. I expect this to test the high again and create a new high at -0.27 Fib which would equal a price of 1088.
