Hourly Chart: Crossed below the support line continue to decline after a pullback. (Bearish)
Daily Chart: Island Top pattern. a strong sign of reversal. (Bearish)
Weekly Chart: Bearish Engulfing after a Doji. (Bearish)
Monthly Chart: failure to close above its resistance level. (Neutral-Bearish)
Change in Average Dollar Value of Trades: +8% in the first 4 months of 2021 in comparison to the last 4 months of 2020.
Conclusion: Bearish in May is the most probable scenario. (Price is moving toward 244)
Educational Article:
1- Megaphone or Broadening Pattern:https://www.investopedia.com/terms/b/broadeningformation.asp
2-Island Top Pattern: https://www.investopedia.com/terms/i/islandreversal.asp
3-Bearish Engulfing:
https://www.investopedia.com/terms/b/bearishengulfingp.asp
4-Resistance:
https://www.investopedia.com/terms/r/resistance.asp
5- Multi-timeframe Analysis:
https://www.investopedia.com/articles/trading/07/timeframes.asp
6- Dollar Volume:
https://www.investopedia.com/terms/d/dollar-volume-liquidity.asp
Daily Chart: Island Top pattern. a strong sign of reversal. (Bearish)
Weekly Chart: Bearish Engulfing after a Doji. (Bearish)
Monthly Chart: failure to close above its resistance level. (Neutral-Bearish)
Change in Average Dollar Value of Trades: +8% in the first 4 months of 2021 in comparison to the last 4 months of 2020.
Conclusion: Bearish in May is the most probable scenario. (Price is moving toward 244)
Educational Article:
1- Megaphone or Broadening Pattern:https://www.investopedia.com/terms/b/broadeningformation.asp
2-Island Top Pattern: https://www.investopedia.com/terms/i/islandreversal.asp
3-Bearish Engulfing:
https://www.investopedia.com/terms/b/bearishengulfingp.asp
4-Resistance:
https://www.investopedia.com/terms/r/resistance.asp
5- Multi-timeframe Analysis:
https://www.investopedia.com/articles/trading/07/timeframes.asp
6- Dollar Volume:
https://www.investopedia.com/terms/d/dollar-volume-liquidity.asp
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Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.