non-arbitrary levels, evidences must be present
MOMO has finally broke out of the downtrend and is moving along an uptrend trajectory bouncing back above 50 Fib.
Some thoughts on MOMO, being looking it for a while - seem like crazy ride, but I entered long now. Safe and Happy trading everyone !
Target next support at 27. $KWEB
If it gaps up and clears my entry line it's a close your eyes and buy the open. If it gaps below by entry line then let it run and pull back then get in short. I can see people locking in gains if it runs early. It needs to gap and clear my entry lines both up and down.
MOMO broke above the trend line. If it stays above the 38.2 Fib at USD 31.39 level this could be the long awaited reversal, but the MA's are not lined up yet. It's also likely that the price will fall through the new found support and keep going lower, or even fall back below the trend line, which is the least likely case.
This is a textbook divergence. Earnings are scheduled for 11/28 so we want to be out of the trade by then. Buy: 29.05 Target: 30.31 - 32.29 (4.34% - 11.15%) Stop: 28.30
Watch for the stock to rise up until earnings on 11/14. If it can't break 29.40 resistance by 11/13 look to short into earnings.
MOMO bounces up from its 1 year old support
MOMO has strong fundamentals and has been uptrending. After the failed breakout it returned to the trend line. Therefore it is good point to buy now.
Lower hi's and lower lows = downtrend. until I see a few bars w higher lows and higher highs, thats that. Price made a lower low but didn't close below the prior major low. Lets watch and see what happens...
The upsloping red median line held price. Price also bumped above the downsloping red median line, suggesting further upside. There may be a re-test of the area where the second red arrow is. Where the down and up sloping lines intersect. I am still just watching for now.
lower highs and lower lows = downtrend right now. When I see a change in behavior, I will consider going long again. The downward sloping pitchfork shows the probable path of price. Specifically , the lower down sloping blue line, AKA the lower median line parallel where I have the big red arrows, is my price target for now. If price closes above the down sloping...