Sitting on sideline is a better choice
BUY
- AVOID but
- Buy above 5.11 and plan to hold long with tight SL (not recommended)
- Recovery in Nasdaq might help to boost the stock price in short term but the stock is in overall weakness for the last 26 days
- More time is needed above 5.11 for a proper base to be formed – confirmation is needed around 6.25 and 6.57
SELL
- Make a tight SL above 5.11
- Better, make the SL around 4% - assume one buys at 5.55, the SL is 5.32
RATIONALE
- Technical rebound
- I’d personally avoid any tech stocks for time being due to weaknesses in growth stock
- powell is very much like musk in crypto – their words weigh too much on the sentiments
- however, it can still be bought for investment (DYOR)
- OR
- punting purposes (tight SL)
**the analysis is solely for my own references and learning
- AVOID but
- Buy above 5.11 and plan to hold long with tight SL (not recommended)
- Recovery in Nasdaq might help to boost the stock price in short term but the stock is in overall weakness for the last 26 days
- More time is needed above 5.11 for a proper base to be formed – confirmation is needed around 6.25 and 6.57
SELL
- Make a tight SL above 5.11
- Better, make the SL around 4% - assume one buys at 5.55, the SL is 5.32
RATIONALE
- Technical rebound
- I’d personally avoid any tech stocks for time being due to weaknesses in growth stock
- powell is very much like musk in crypto – their words weigh too much on the sentiments
- however, it can still be bought for investment (DYOR)
- OR
- punting purposes (tight SL)
**the analysis is solely for my own references and learning
Aviso legal
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