www.varchev.com

Aaron's: Opportunity for a buy with the uptrend

Rating:

12345
Loading...

Timeframe: D

Trend: Ascending

Deal Idea: Purchase, SL 50.69

Technical Comment: The company's shares are in a correction mode with close to 10%, passing below 50 and briefly below 200 periodic moving averages. The price is supported by the main trend, and DeMark is strongly in the resale zone. The Fibonacci Zone 50 is supporting, with stocks already signaling a trend reversal. This provides a prerequisite for finding long positions.

Fundamental Comment: The reason for the correction is the worse than expected reports and the poor performance of the business segment in which the company operates. However, the company remains with good expectations for the sector's prospects for 2020.

We can look for long positions when returning back above Fibo 50 and 200 for the confirmation period.

Alternatively, the price fails to keep above the levels in question, and sellers regain control of the price, with the expectation that the diagonal support will break. At this point, our bullish scenario will collapse.


 Trader Martin Nikolov

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

chat with dealer
chat with dealer
Cookies policy