DSK - Could we see a pullback?
DSK has rallied nicely, but the recent price action indicates that maybe price has gotten top heavy. It looks very overbought currently and may need a breather and a decent pull back, as it has printed a double top, coupled with MACD Bearish Divergence. It has also broken its trendline, which makes me believe that it may run out of steam and pull back lower. There is strong support at $3.30, which should hold and I believe if broken, we might see acceleration in price drop.
I have two buy zones (1st Buy Zone between $2.80 - $2.95) and (2nd Buy Zone between $2.50 - $2.70), where I think price may come to test as these are previous Resistance zones or congestion zones and also Fibonacci 50% and Fibonacci 61.8% zones (confluence). I would monitor price action at either of the two levels and would buy after bullish price action confirmation.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
I have two buy zones (1st Buy Zone between $2.80 - $2.95) and (2nd Buy Zone between $2.50 - $2.70), where I think price may come to test as these are previous Resistance zones or congestion zones and also Fibonacci 50% and Fibonacci 61.8% zones (confluence). I would monitor price action at either of the two levels and would buy after bullish price action confirmation.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
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