DANSKE BANK - Reaction and then one more drop
On the weekly chart, after a long uptrend in 5 Waves a correction phase started.
It is unfolding as a deep move down affected by the negative psychology of investors due to the news in Estonia.
Looking at the chart I expect a reaction soon and then a last drop in order to end this down period.
Long term Momentum has reached extremely oversold levels.
During that reaction more information will be available as to the stock's projections.
My opinion is that as soon as the reaction ends, the move down will probably test 120 and could even move towards 100.
It is unfolding as a deep move down affected by the negative psychology of investors due to the news in Estonia.
Looking at the chart I expect a reaction soon and then a last drop in order to end this down period.
Long term Momentum has reached extremely oversold levels.
During that reaction more information will be available as to the stock's projections.
My opinion is that as soon as the reaction ends, the move down will probably test 120 and could even move towards 100.
Kommentera:
we are very close to a reaction. Let's see when and how this will occur.