WATCH $ALB

٣ يوليو ٢٠٢٢

Bearish



Fundamental

- Inflationary macro environment / fear sentiment
- Funds Distribution
- High PE
- Decent PEG
- Decent P/FCF
- Strong Sector / Industry / Not Leader
- Decent earnings
- Decent fundamental

Technical



- Momentum Theory Indicator - H&S formation momentum
- Price action formation ( rising wedge )
- Broke upward Trend line and retest previous high forming double tops
- Price below 200MA
- High volume node at peak
- Potential cup and handle formation

Entry idea

- Entry idea was based on few confluences
- Break of neckline and retest
- Momentum broke neckline

Stop loss depending on entry and risk appetite. But always set meaningful stops.

"the distance between dreams and reality is called action"

Cheers and happy trading!