Hi Traders,
Since my last post on Twitter, Price has rather continued to break the trendline which I have drawn. This changes my perspective on what may happen going forward.
Looking at the 4 hour time frame, I see that price is trading at 39.95 which is also a resistance. I would like to see a pull back from this level into 37.37 where I will be looking to buy the stock. I would like to see price create rejection at this level and bullish candles before committing to a long position. My target will be at 48.16 which is a untested resistance.
Looking at the downside, If price breaks my point of interest with strong momentum, this play will be off the cards for me. That is when I will reanalyze and see where we could go next.
Renaldo Philander.
Since my last post on Twitter, Price has rather continued to break the trendline which I have drawn. This changes my perspective on what may happen going forward.
Looking at the 4 hour time frame, I see that price is trading at 39.95 which is also a resistance. I would like to see a pull back from this level into 37.37 where I will be looking to buy the stock. I would like to see price create rejection at this level and bullish candles before committing to a long position. My target will be at 48.16 which is a untested resistance.
Looking at the downside, If price breaks my point of interest with strong momentum, this play will be off the cards for me. That is when I will reanalyze and see where we could go next.
Renaldo Philander.