From the last trading sessions, I was looking if the price would go to 58.15 as invalidation level to be extremely short this stock. But then the price has been traded inside of downtrend channel which kept me from buying this.
I still think this looks constructive to the upside but it hasn't offered opportunity to go long just yet.
Instead if the price doesn't break the downtrend trendline and just drops making another leg lower, I might consider to sell the bounce to the previous range bounce at resistance level 55.98 and loo for 49.29.
The reason why I am not really buying this short side is the fact that the RSI hasn't been showing me the strong selling signal and the length of the decline is not showing promising extreme decline at this moment. Will be watching closely if there's good setup for both sides
I still think this looks constructive to the upside but it hasn't offered opportunity to go long just yet.
Instead if the price doesn't break the downtrend trendline and just drops making another leg lower, I might consider to sell the bounce to the previous range bounce at resistance level 55.98 and loo for 49.29.
The reason why I am not really buying this short side is the fact that the RSI hasn't been showing me the strong selling signal and the length of the decline is not showing promising extreme decline at this moment. Will be watching closely if there's good setup for both sides
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