In the NU / ND type trend follow-up trading strategy, it is fundamental not to trade against the trend.
The share price hit a high at 9,838 points on February 19 and fell to 6,631 points on March 23.
In December 2018, the uptrend from 6,190 points to February 19, 2020 ended. Since the decline did not stop at the level of the half price push, there is a possibility that all prices will return at present, so it is important to note where the downtrend ends and the fall stops.
Given that NASDAQ has not yet reached the low it set in December 2018, it is unlikely that the medium- to long-term uptrend can be concluded.
However, until the bottom is confirmed, it is better to thoroughly conduct short-term trading or return selling with the aim of increasing the rebound of the contrarian strategy.
#Rika trend