Zoom Inverse Cup and handle
There is an upside down cup..... and an upside down handle of a cup ....
A daily close below 375 will trigger the short trade
TD red sequentials daily and Weekly already has triggered the trade.
Why I like this idea :
- Vaccines may mean investors turn their attention away from Covid stocks and towards e.g travel, ipos,
- Downwards moving daily short & intermediate moving averages
- Downwards curving 3D 20SMA
- MACD & RSI in negative territories
- If the weekly closes below the 20SMA - great.
Risks of this trade:
-Wide Stop loss - The swing high at 478 - 20% giving an unfavourable risk rewards ratio. Can use the Blue line 50SMA as stop loss but still wide.
- If heavy Covid vaccine side effects reported - this stock will likely reverse to the upside in anticipation of prolonged Covid and uncertainties on next vaccine (less likely scenario)
A daily close below 375 will trigger the short trade
TD red sequentials daily and Weekly already has triggered the trade.
Why I like this idea :
- Vaccines may mean investors turn their attention away from Covid stocks and towards e.g travel, ipos,
- Downwards moving daily short & intermediate moving averages
- Downwards curving 3D 20SMA
- MACD & RSI in negative territories
- If the weekly closes below the 20SMA - great.
Risks of this trade:
-Wide Stop loss - The swing high at 478 - 20% giving an unfavourable risk rewards ratio. Can use the Blue line 50SMA as stop loss but still wide.
- If heavy Covid vaccine side effects reported - this stock will likely reverse to the upside in anticipation of prolonged Covid and uncertainties on next vaccine (less likely scenario)
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