Blink Charging (BLNK) | Higher Risk, Short Term Tactical Reversal Trade Idea
The share is in the EV sector. Having been a downward trend since late June, we consider a short term ‘red-to-green’ trade where, a gap/print lower followed by a reclaim of the prior day lower would set up a bullish reversal. Should this occur during Wednesday’s trading session, the reclaim low would be $32.98 (must hold here for confirmation), for a reversal back to the $35.50/35.90 range. The 7-day RSI is at 21, suggesting a ‘near overbought’ condition.
Stop: $31.20
The share is in the EV sector. Having been a downward trend since late June, we consider a short term ‘red-to-green’ trade where, a gap/print lower followed by a reclaim of the prior day lower would set up a bullish reversal. Should this occur during Wednesday’s trading session, the reclaim low would be $32.98 (must hold here for confirmation), for a reversal back to the $35.50/35.90 range. The 7-day RSI is at 21, suggesting a ‘near overbought’ condition.
Stop: $31.20
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