CORP
#HUN Resistance turned Support and testing 50 dma.Late September 2015, #HUN gapped down through the 14 USD level. The stock has tested this level a couple of times and it acted as a strong resistance. In April 2015, #HUN bullishly breached resistance for the first time and now #HUN is dropping lower and testing back the key 14 USD level. Will it hold as support this time? Price is testing the 50 day moving average in this potential support zone. If it holds; there is some nice upside in this stock.
Risk/Reward = 4
Sounds interesting trade some shares of Oil-Dri Corp. of AmericaMy sugestion:
Entry point: 33.39
Stop loss: 28.34
Profit target: 43.51
FMC POSSIBLE BREAKOUT FOR SHORTINGLooking at previous rising wedge breakout i've measured a retrace under 0.61 fib. The breakout occurred after 291 bars on weekly chart and happened with many gaps. Now we have a similiar pattern, time symmetry, a gap that's going to break lower trendline and volume increasing. Need to see a strong distance from lower trendline, possible gaps and more volume for confirmation. As a possible target i'm pointing to 0.61 fib area. Good luck for your trading
Possibilities for shortingLooking at weekly chart we can see a possibility to build a perfect head and shoulders pattern, At the moment we are in the top of right shoulder. The 0.23 fib could be a perfect target for a reversal. If it's a perfect symmetry we can target to the 0.5 fib, otherwise we can point to the 0.38 or around 55 dollars area. So look at momentum and volume for confirmations to begin the building of your entry position shorting. Put stop loss and good luck for your trading.
