Daily charts
- stock is trending down this year
- stock has also made a new 52 week low
- today there was an intraday spike of 10% in the stock
- my buy above level is 3200
But weekly charts show a different picture.
Stock has very good support around 2940... this is infact a 2 year low/ double bottom whatever you call it. So for a long (contra) trade your risk is very low.
On monthly charts, next support is around 2400
- stock is trending down this year
- stock has also made a new 52 week low
- today there was an intraday spike of 10% in the stock
- my buy above level is 3200
But weekly charts show a different picture.
Stock has very good support around 2940... this is infact a 2 year low/ double bottom whatever you call it. So for a long (contra) trade your risk is very low.
On monthly charts, next support is around 2400
