This morning, our tactical model for SLM suggests the following: "Aggressive Buying But Do Not Chase-Look For Overshoot and Failure To Hold Highs To Short-Sell Back To The 8-EMA".
A manual review of the chart notes the price at a clear supply zone however we know it has the ability to overshoot.
If it trades above resistance and fails to hold, does that set up a short term short/sell? I'm monitoring for entry.
Note: the 7 and 14-day RSI's trade at 80 and 74 respectively - strong but nearing 'short term overbought'.
A manual review of the chart notes the price at a clear supply zone however we know it has the ability to overshoot.
If it trades above resistance and fails to hold, does that set up a short term short/sell? I'm monitoring for entry.
Note: the 7 and 14-day RSI's trade at 80 and 74 respectively - strong but nearing 'short term overbought'.
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