The stock experienced sharp decline from 281LE till 250LE in three days.
The 250LE is a previous buy point, and we should get some buying power in this level.
The 242LE is 38 Fibbo level and should also support the stock and slow its sharp decline.
The K% and MFI are both in a median area after sharply dropping from over bought area for both. This is healthy and should NOT freak investors out.
swingers already profit gained and should be ready to buy if good money re-entered the stock.
What to expect:
1- Stock reverse from 250LE to continue its trip to 303LE.
- Fresh buyers will NOT enter until penetrating 267LE.
- Investors will hold position and may buy more above 260LE.
2- Stock drops bellow 250LE:
- Investors will sell at will and wait for a good opportunity some other day.
- Swing traders should buy @ 242LE if the stock reach out for it fast (through one day) to sell on settlement opportunity.
No comments:
Post a Comment