SAMCHEM, Could a Long Term Reversal Be in the Cards?
Bias: Bullish. When SAMCHEM broke the blue long period MA line resistance, it rallied strongly. In the correction that followed, priced dropped up to 15% between highest point and lowest point in 5 trading days. As price appoached the same blue MA, it could be a buy-in oppurtunity if the breakout/reversal is to be true.
Stop-loss: 0.635
// The recent low point 0.640.
1st target: 0.755
// Previous high as minor resistance.
2nd target: 0.885
// Fibonacci extension & previous trading zone.
Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune!
Guys, if you like the idea, please "like" it, this will be the best thanks.
If you have any questions or trading ideas, please post them in comments!
Thank you for your support, we appreciate it.
Stop-loss: 0.635
// The recent low point 0.640.
1st target: 0.755
// Previous high as minor resistance.
2nd target: 0.885
// Fibonacci extension & previous trading zone.
Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune!
Guys, if you like the idea, please "like" it, this will be the best thanks.
If you have any questions or trading ideas, please post them in comments!
Thank you for your support, we appreciate it.