The good:
- Stochastic turning bullish,
- High volume
- holding on first level of support
Neutral:
- In previous dip the stock has always recovered (Although this is reassuring, in my view it is to be considered neutral because past moves are not a good enough indication of future price movement)
The bad:
- MACD is still bearish. Will need to be monitored,
- In previous days investors were readjusting their position in the market, moving out tech stocks and going into more cyclical and beaten down stocks. Will this continue? It depends on how US get an hold of COVID-19 (is past performance are a sign of the future, we are f*&^:) ).
Looking to take a position if and when the MACD turn bullish for short-medium trade.
As usual, this is my opinion, not an investment advice. Do your own due diligence!
Cheers,
Aris
- Stochastic turning bullish,
- High volume
- holding on first level of support
Neutral:
- In previous dip the stock has always recovered (Although this is reassuring, in my view it is to be considered neutral because past moves are not a good enough indication of future price movement)
The bad:
- MACD is still bearish. Will need to be monitored,
- In previous days investors were readjusting their position in the market, moving out tech stocks and going into more cyclical and beaten down stocks. Will this continue? It depends on how US get an hold of COVID-19 (is past performance are a sign of the future, we are f*&^:) ).
Looking to take a position if and when the MACD turn bullish for short-medium trade.
As usual, this is my opinion, not an investment advice. Do your own due diligence!
Cheers,
Aris
IMO Waiting for 130 and then to150$?