Target reached, expect a move lower

4 jun 2020

This morning AML touched the weekly/monthly trend line but failed to advance any further and drew a bear candle. You can still see my LONG marker on the chart. In the description I wrote that if the price does not form a double bottom but moves up above 43 (and stays above 200 EMA) the LONG scenario remains valid and we can expect the SP to touch the trend line. The target price was reached this morning and I feel that the stock is a bit "overheated". It needs a rest (some consolidation). If the price fails to advance beyond the trend line in the next few days this will indicate that globally AML is still in a downtrend and one can expect a move lower.