This is one of mty main bearish sdet ups for the upcoming week. I see multiple indicators that make me think there is a retracement coming. Specially taking into consideration that we're heading a very strong resistance and the price is 47% up in less than a month.
Either rejecting 34.65 or breaking out the white formation to the downside, I would place puts taking into consideration the RSI levels and how the stock has moved recently, +48% in just a month.
This trade is going to have 2 entries. The first one is going to be today but wont be a big positiion, and the second is going to be more agressive, just after it breaks the purple line.
Reasons to trade this: MACD bullish crossing, MACD turning positive, Price making higher lows
Classic bullish divergence on the daily. This is probably kind of late to publish the idea. The perfect entry was around 230. However, it still has run to go. I bought a few shares, and already sold half of the position to book profits and will let this run. This is a technical, but also a fundamental play, and I love to hold stocks like this on my long term portfolio.
Broke out off the falling wedge + About to break resistance + Hidden bullish divergence. It´s just a matter of time. And it´s also really easy to manage your risk.
Classic bullish divergence on the 4H. Using a tight stop, and also, the regulations in China should be taken into consideration. In spite of that, I see a great opportunity for a swing trade and also a long term position.
Double bottom + Support + Double top + Classic bullish divergence on the RSI. A reversal it's probably starting! On top of that, it is very easy to manage your risk.
