Hi traders,
We have a trading idea to offer you in DEN stock.
The idea is an idea based on technical analysis only.
So like this, LIND stock has been making a nice bear flag on the 30 minutes chart.
The simple moving averages support the idea and confirm that the trend continues to the downside.
The idea is to get in below $7.85 for the move toward $6.9.
Ascending Triangle, confirmed
Pros:
Descending Volume
PPS above 50MA and 200MA
R/R ratio above 12
RS ascending and above 0
250RSI close to 50
ATR ascending, more volatile
Increased volume within the last week.
Cons:
200MA descending
Price targets:
PT1=15,05
PT2=16,50
PT3=18,23
PT4=19,23
PT5=20,52
Today it breaks it’s bullish channel’s resistance and makes it’s new high. Probably we could wait for a little pullback before looking for the right price to long the stock.
