Stock is forming a descending triangle pattern on weekly chart. Descending triangle pattern is considered as bearish pattern. Once breaking the support, short positions can be initiated. In this case stock has made support at around 735/740 levels. So, one can keep this stock on watch-list and trade can be initiated, once breakdown/breakout happens. If the stock crosses and closes above the trendline, longs can be considered and vice-versa.
Handel aktiv:
Stock has given breakout. Hope it makes new high in coming weeks, months.
Trade stängt manuellt:
Stock has given breakout and one can continue holding for new high in coming weeks, months. 860 and 880 levels would act as resistance.