Double top structure with bearish rsi divergence. The view will negate if 8000-8010 crossed.
White arrows show that stock is making higher highs but the rsi indicator is making lower highs, hence the rsi divergence.
One more red candle on day time frame (breaking the trend line), one can go short with 8000-8010 as stop-loss or can sell call options above 8000 and hedge with an OTM call.
TARGET 1: 7650-7700 Range
TARGET 2: 7500-7550 Range
Disclaimer: consult your financial advisor before taking any trades or positions
Thank you!
White arrows show that stock is making higher highs but the rsi indicator is making lower highs, hence the rsi divergence.
One more red candle on day time frame (breaking the trend line), one can go short with 8000-8010 as stop-loss or can sell call options above 8000 and hedge with an OTM call.
TARGET 1: 7650-7700 Range
TARGET 2: 7500-7550 Range
Disclaimer: consult your financial advisor before taking any trades or positions
Thank you!