Siemens AG - the correction gives us good levels for new purchases

23.06.2017 / 13:20

Rating:

SIE-GR (Siemens AG): Our expectations: The trend is long, as the correction reached EMA 100. That gives us a solid ground to take a new long positions with SL: 121.29

Alternative scenario: A decline in the price under the diagonal support will gives us a signal for possible activation of the Head and Shoulders formation, where we can make new short positions.

Commentary: Rising trend.

Correction to 38.2% Fibo - support levels

Bullish pin bar (hammer) and correction of the shadow without the price to go under its bottom - positive signal.

Engulfing bar after the correction - positive price action signal

Price reverted above EMA 100 - trend is in power, SL: 121.29

Стефан Д. Ангелов - Head of Stocks Trading

Varchev Traders

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Siemens AG - the correction gives us good levels for new purchases

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