What we can see on the chart is that the price of the stock is overbought.
The price is above the upper Bollinger Band, and also the stochastic shows us overbought conditions (above 80).
The price currently is at the resistance, therefore it would be the entry for the short position. Stop loss and target are shown on the chart.
The price is above the upper Bollinger Band, and also the stochastic shows us overbought conditions (above 80).
The price currently is at the resistance, therefore it would be the entry for the short position. Stop loss and target are shown on the chart.
Kommentar:
Resistance is acting as it should. Trading idea still valid
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