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FUN ANALYSIS: DOWNTREND CONTINUES!
FUN ANALYSIS:
FUN is trending down and the best position here is a short term short position or to wait for a long entry inside support. There is a possible pop back up to resistance along with the 200ma at 32-39 sats. I expect a further rejection back down off this zone outlined in red. Therefore short entries should be posted from 32-39 sats. The profit target zones are T1 at 26 sats, followed by T2 at 22 sats. Given the fact that FUN has already broken down from the temp support it is likely there is more downward momentum to come, and at minimum double bottom at T1. When major support is hit, expect a stronger bounce and look to close short and flip tot long inside the green support!
FUN is trending down and the best position here is a short term short position or to wait for a long entry inside support. There is a possible pop back up to resistance along with the 200ma at 32-39 sats. I expect a further rejection back down off this zone outlined in red. Therefore short entries should be posted from 32-39 sats. The profit target zones are T1 at 26 sats, followed by T2 at 22 sats. Given the fact that FUN has already broken down from the temp support it is likely there is more downward momentum to come, and at minimum double bottom at T1. When major support is hit, expect a stronger bounce and look to close short and flip tot long inside the green support!
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