NEO.FR - Long
Graphics - D1
Our expectations: The price corrected to long-term and short-term diagonal coinciding with 23.6% Fibonacci correction. We expect the upward movement to remain in place, with current levels giving us a good opportunity to hold long positions with the trend.
Alternative Scenarios: If the price goes back below the diagonal support and 200SMA, the positive scenario will be spoiled and it is likely that we will see a drop in stock prices.
Comment:
Presence of ascending trend
Correction to diagonal levels of support
Correction to 23.6% of Fibonacci
Breakthrough of long-term diagonal in ascending direction - positive for the price
Price Action: The presence of engulfing bar at support levels - a strong positive signal
RSI turns and goes out of over-sales area
SL: 34.10
Jr Trader Petar Milanov
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