GILT bullish potential - ZOOMED CHART
تم تحديثه
Closer look at GILT at a lower timeframe, no need for Logarithmic scale this time.
We just passed the EMA 50/200 golden cross on high volume, coinciding with a hidden bullish divergence on the RSI daily.
Pre-market trade is up 2.13% which means we are taking on a challenge of a first line of important resistance at around $6.20, with bear power drying up and bullishcoming in (see chart) I'd say we stand a fair chance of overcoming this resistance perhaps even today.
Like in the last post, there have been positive surprises in earnings and revenue for the past fourteen quarters and the higher lows are now apparent on a non-logarithmic scale.
Now remember at it's peak this stock was over $2800.
High risk, high reward. Depending your trading style, trade safe!
We just passed the EMA 50/200 golden cross on high volume, coinciding with a hidden bullish divergence on the RSI daily.
Pre-market trade is up 2.13% which means we are taking on a challenge of a first line of important resistance at around $6.20, with bear power drying up and bullishcoming in (see chart) I'd say we stand a fair chance of overcoming this resistance perhaps even today.
Like in the last post, there have been positive surprises in earnings and revenue for the past fourteen quarters and the higher lows are now apparent on a non-logarithmic scale.
Now remember at it's peak this stock was over $2800.
High risk, high reward. Depending your trading style, trade safe!
تم فتح الصفقة
So far a triple retest of the new support around $6.10 on the smaller timeframe with a lot of volume and bullish divergence on RSI. Let's hope we break through the $6.22 resistance and the next resistance levels I foresee are around the $6.80, $8.95, $10.46 and finally the $21 mark.
This stock is truely trading at a premium (still). We'll see some retracements along the way ofcourse but overall if the fundamentals stay this strong and no global macroeconomic event happens that throws the whole stockmarket down I think this is a potential high risk extremely high reward pouring some money in.
Protect your losses, trade safe!
ملاحظة
I meant to write "worth pouring some money in" :)ملاحظة
also using the logarithmic scale on this asset helps a lot when you want to see the bigger picure (weekly timeframe for example).
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