RED HAT INC. - Chikou & Candle break this week an important #Ichimoku level - 12/23/2016 (GMT)
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- Chart + Trading signal
- Signal : Sell signal
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- Entry price recommended : 75
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- Stop loss : 79
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- Take profit : 67
- Timeframe : Weekly
RED HAT INC. Chart
This week the quarterly publication has disappointed and it is manifested by a large red candle that break below the cloud. If this movement is not stopped by the cloud's hollow level at 69.56 I expect a bearish rally to target 67.01 and perhaps 62.15.
Otherwise as long as we are between the cloud's hollow and the cloud's peak (69.56-78.18), the trend could stays neutral.
An other alternative is a pullback on the level Tenkan/Kijun which could be a good entry point to sell short on a daily trend reversal signal.
Otherwise as long as we are between the cloud's hollow and the cloud's peak (69.56-78.18), the trend could stays neutral.
An other alternative is a pullback on the level Tenkan/Kijun which could be a good entry point to sell short on a daily trend reversal signal.
This member did not declare if he had a position on this financial instrument or a related financial instrument.
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