POM.FR - Opportunity for a long position

25.09.2018 / 02:37

Rating:

POM.FR Weekly Chart Our Expectations: Upward trend, correction to horizontal and diagonal support. Opportunity for long positions with stop 30.00

Alternative Scenario: If the price drops below the number of supports, a 50.00 Fibonacci test will follow. In this case, the bullish scenario will be cancelled.

Comment: Ascending long-term trend. Correction to horizontal and diagonal support. At these levels is also 38.2 Fibonacci, which makes them even more significant. On weekly chart late last week, an engulfing bar is formed, which is our price action signal. On Monday, the stock dropped, which played the role of correction of the engulfing bar. Breakthrough wedge in the ascending style - positive signal.

Trader Aleksandar Kumanov

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POM.FR - Opportunity for a long position

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