Currently in a descending channel on a daily chart. Looking at a bigger picture we could be getting to good potential buy areas. If you'd like a confirmation look for a breakout of current descending channel. Areas marked to look out for.
ST Micro Electrics - 30d expiry - We look to Sell at 38.29 (stop at 39.56)
Resistance could prove difficult to breakdown.
Bespoke resistance is located at 38.00.
38.44 has been pivotal. 39.28 has been pivotal.
Levels close to the 61.8% pullback level of 38.91 found sellers.
Early optimism is likely to lead to gains although extended attempts higher are...
ST Micro Electrics - 30d expiry - We look to Sell at 38.29 (stop at 39.56)
Resistance could prove difficult to breakdown.
Bespoke resistance is located at 38.00.
38.44 has been pivotal.
39.28 has been pivotal.
Levels close to the 61.8% pullback level of 38.91 found sellers.
Early optimism is likely to lead to gains although extended attempts higher are...
ST Micro Electrics - Short Term - We look to Sell at 38.030 (stop at 39.300)
Further downside is expected and we prefer to set shorts in early trade. Trades with a bearish descending triangle formation. Previous support located at 38.50. The trend of lower highs is located at 41.00. A break of 38.00 is needed to confirm follow through negative momentum.
Our...
