In my last post we discussed that the LIOC had bounced back from 30.00 on 2 occasions since 5th of May 2015. This time it has turned around at 30.20, thus forming a swing low at that. This formation with a lower RSI in the ASI and the shortening histogram MACD bars in the Stock makes it an interesting formation to the UPSIDE. For a short term trade can buy between 30.50 and 31.00. If your strategy is a Swing Trade, your stop needs to be at 29.50.
No comments:
Post a Comment