EW Long Opportunity after Weak Guidance Causes Gap Lower
EW had a weak guidance forecast that disappointed investors and caused a gap lower, I am expecting a rally over the next couple of days to fill that gap by the end of the week.
EW has long term technical horizontal support at $62.50 that has held well all year and held again today. A bullish case can be made for the stock as it has made higher highs prior to the late October sell-off, and has failed to break for a lower low.
Take profit would be at around the $64.50 level and stop loss at $61 if there is a clean break of horizontal support. R/R is not exceptional at 1.26 and is considered a risky day or two trade for those with a high risk appetite.
EW has long term technical horizontal support at $62.50 that has held well all year and held again today. A bullish case can be made for the stock as it has made higher highs prior to the late October sell-off, and has failed to break for a lower low.
Take profit would be at around the $64.50 level and stop loss at $61 if there is a clean break of horizontal support. R/R is not exceptional at 1.26 and is considered a risky day or two trade for those with a high risk appetite.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.