Overview
Rheinmetall had a great run specially fueled by the war in Ukraine. With an additional crisis forming in the Middle East i can see the price going further up. From a chart point we see that the current resistance (100% Fib Line) was 2 times pierced (yellow circle) but price never really broke it.
The Buy zone is based on the confluence of the 50% Fib level and an already engulfed (blue circle) support level that lead to the current ATH / Swinghigh.
Target 1: The First big resistance level (S/R Level 1) which stopped this really for quite some time. I would close 50% of the position here.
Target 2: Slightly below the former Swinghigh / ATH. The remaining 50% of the position would be closed here
Stop- Loss: None (Long- term- holding
Invalidation: Price always stay above the buy zone
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for entertainment purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh
Rheinmetall had a great run specially fueled by the war in Ukraine. With an additional crisis forming in the Middle East i can see the price going further up. From a chart point we see that the current resistance (100% Fib Line) was 2 times pierced (yellow circle) but price never really broke it.
The Buy zone is based on the confluence of the 50% Fib level and an already engulfed (blue circle) support level that lead to the current ATH / Swinghigh.
Target 1: The First big resistance level (S/R Level 1) which stopped this really for quite some time. I would close 50% of the position here.
Target 2: Slightly below the former Swinghigh / ATH. The remaining 50% of the position would be closed here
Stop- Loss: None (Long- term- holding
Invalidation: Price always stay above the buy zone
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for entertainment purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh