- Stock has moved up powerfully off the 18th of March low taking out the recent high of February.
- A bearish engulfing candle that has formed which indicates the the bears have now managed to get the upperhand so the area will likely form a resistance level. (Tencent is also down this morning in th Asian session)
- The question is how much of a pull back will be possible here before the buyers step in. (Perhaps 20ma)
- Any short will be scalps as the chart still looks bullish and fundamentals are good. The pullback could give an opportunity to enter long again!
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NPN
- A bearish engulfing candle that has formed which indicates the the bears have now managed to get the upperhand so the area will likely form a resistance level. (Tencent is also down this morning in th Asian session)
- The question is how much of a pull back will be possible here before the buyers step in. (Perhaps 20ma)
- Any short will be scalps as the chart still looks bullish and fundamentals are good. The pullback could give an opportunity to enter long again!
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NPN
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