Bimb has break above the long term downtrend line 2 weeks ago and a pullback confirmation were spotted yesterday. The immediate support can be found near the downtrend line (previous resistance potential turn support) coincide with the 20-days MA at 1.90, the next support is at 1.80 near the long term trend line support. The immediate resistance is at 2.10.
Aggressive Strategy - long at 1.90 and put a stop at 1.69 with 1st profit target at 2.10 and the next target 2.40.
Conservative Strategy - long somewhere near long term trend line support (red line) 1.80 and put a stop at 1.69 with 1st profit target at 2.10 and the next target 2.40.
Caveat emptor.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.