Hi Traders! This is our analysis for CARS, the chart looks very simple but very bullish!
- Price is currently located on a long term trend line (Yellow) which is working as a very strong support.
- Also backed by medium term trend support (purple).
- 100MA support + horizontal support.
- RSI is 45, in the past year RSI bounced of 40 level 7 times.
- Ichimoku indicating that we are in a very strong uptrend.
This stock is currently backed by 4 times of support indicating that the probability of bouncing up and testing the next resistance high. Also, the 1 year high has been tested once already, a retest is very likely when the price is backed by such strong support!
Entry at 13,50
Target at 15,37 slightly below the 1 year high for a 14% gain-
SL at 13,00
- Price is currently located on a long term trend line (Yellow) which is working as a very strong support.
- Also backed by medium term trend support (purple).
- 100MA support + horizontal support.
- RSI is 45, in the past year RSI bounced of 40 level 7 times.
- Ichimoku indicating that we are in a very strong uptrend.
This stock is currently backed by 4 times of support indicating that the probability of bouncing up and testing the next resistance high. Also, the 1 year high has been tested once already, a retest is very likely when the price is backed by such strong support!
Entry at 13,50
Target at 15,37 slightly below the 1 year high for a 14% gain-
SL at 13,00
💥 Free signals and ideas ➡ t.me/vfinvestment