Overall the stock is bullish. But right now it is around the upper channel. According to the channel theory, the stock will have to drop to the lower channel.
The stock gave a breakdown a few days ago but it is above 200 EMA so going long is preferred for now.
Now what?
ADX is falling. Volumes aren't that great either.
Stock will have to go down and then shoot up.
We will go short with our SL few points above the upper channel & our Target will be the lower channel.
Stay Safe & Trade Carefully.
Trade attivo
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Chart Update - Stock moved as planned. Now what? ADX is falling & this might send our stock in a range. As long as the stock is below 335 the idea stays active. We will wait for the stock to hit lower channel.