Very toppy here. I think this stock will correct 20-30% in the next 2 months here ...
Here me out
Stock has reach trendline resistance
3 straight months outside its monthly Bollingerband
Weekly money flow is at 100
And lastly but most importantly is the Negative divergence on the RSI
Put all of this together going into a weak Seasonality and it's a recipe for a deep correction
This is Avgos price support, only breached it on Tariff sell off which I highlighted with the circle.
I think we head back there long term
But keep in mind of the support at 250.
So my correction is 230-250 by mid or end of october..
Zoom in of the daily with trendline resistance and 20ma and you can see how price has rode the 20ma all summer.. So your short entry would be a close below the 20sma or wait for one more bounce between 310-320 to enter short
Here me out
Stock has reach trendline resistance
3 straight months outside its monthly Bollingerband
Weekly money flow is at 100
And lastly but most importantly is the Negative divergence on the RSI
Put all of this together going into a weak Seasonality and it's a recipe for a deep correction
This is Avgos price support, only breached it on Tariff sell off which I highlighted with the circle.
I think we head back there long term
But keep in mind of the support at 250.
So my correction is 230-250 by mid or end of october..
Zoom in of the daily with trendline resistance and 20ma and you can see how price has rode the 20ma all summer.. So your short entry would be a close below the 20sma or wait for one more bounce between 310-320 to enter short
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.