Fully formed head and shoulders patterns on the daily chart. The neckline was just recently broken as the 50 MA dropped below the 100 MA and is headed towards the 200 right now. We can also see bearish divergence forming on a downwards MACD cross. Stochastic RSI cross downwards as well. The price itself breached the 200 MA level of $175 as well. Looking super bearish here, and this is a stock that is less likely to be impacted by a "lavish" trade deal.
Trade stängt: målet nått:
Taking profit here. Nice steady decline right near to my target level. I'm out!