PROX trade ideas
PROXIMUS - 26 or 12?These are my thoughts on PROX . They are meant to give you an idea, not trading advice.
Triangle pattern forming here, PROX will see a breakout down or up. A move down could give you a beautiful long term entry in a couple of months.
Please be careful, as the market never gives you certainties, only probabilities!
ALWAYS REMEMBER THIS WHEN YOU TRADE
2018-06-23 - Proximus - When will the bearish trend end?Proximus (PROX) is still downtrending.
A volume peak occurred on the June 13, when turbo and sprinters were closed because the stop-losses were reached.
Basically, I expect to see some short-time but weak bullish price action.
BEARISH
We have to assume the downtrend is still in effect as long as there is no clear reversal signal.
Will Trump's trade war drive price even lower?
BULLISH
The price has entered a trading zone (yellow on the chart), which lasted from October 2013 to May 2014.
I expect this zone to act as support and I hope to see buyers stepping in the next coming weeks.
2017-11-19 - Proximus - Weakness in the downtrend?On the weekly the stock is currently in a downtrend, the previous downtrend got interrupted end of February 2017 but seems to have resumed in June.
We see doji's and small body candles on the weekly, so it looks like there is balance.
25.45 seems to be a key support level, but I am not sure the stock will visit that price level again to test it.
I have the feeling the stock is preparing to breakout again and begin a new uptrend.
I am willing to buy around 28.30 EUR and trade a very short-time range up to 29.10 EUR, using a turbo long.
For a decision on a longer time-frame I have no Long/Short vision, hence the Neutral rating for this idea.
The fundamentals of the company are actually good.
Reference : www.proximus.com
2017-07-26 - Proximus - Go LongMy previous idea on Promixus didn't work out the way I expected. (See 2017-06-16)
The stock is now trying to fill the gap. Based on the increased bullish volume I am anticipating that the gap fill will be successful tomorrow and the stock will continue the trend.
PRO:
1) Bullish Volume on a Bullish bar
2) The stock broke out of the range it was stuck in
AGAINST:
1) The bar is bullish but with an upper wig (the supply may be because of profit taking?)
2) It may be a false breakout
3) In my original plan (See 2017-06-16) I anticipated a gap fill and then a bearish trend, this may still happen
