CHD: 200 MOVING AVERAGE BOUNCE PLAY, GOOD RISK-REWARD
CHD is offering a good Risk/Reward play.
Bounce off the 200MA and Bullish Engulfing Candle.
If we get a bullish push we can even reach the trend line and try to break out.
Possible entry here with a stop just under the 200MA.
Investopedia definition:<<A bullish engulfing pattern can be identified when a small black candlestick, showing a bearish trend, is followed the next day by a large white candlestick, showing a bullish trend, the body of which completely overlaps or engulfs the body of the previous day's candlestick.>>
Bounce off the 200MA and Bullish Engulfing Candle.
If we get a bullish push we can even reach the trend line and try to break out.
Possible entry here with a stop just under the 200MA.
Investopedia definition:<<A bullish engulfing pattern can be identified when a small black candlestick, showing a bearish trend, is followed the next day by a large white candlestick, showing a bullish trend, the body of which completely overlaps or engulfs the body of the previous day's candlestick.>>
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