Frasers Centrepoint Trust - mini double bottom at 1.75

FCPT sold off heavily today and retested 1.75 today forming a mini double bottom. This is also the 50% fib retracement of the bigger uptrend from 2009-2020. An aggressive entry would be to enter as soon as it retested 1.75 and starts to rebound. However a more conservative entry is to wait for some "confirmation" that the low is in, which means to wait for price to go above today's opening price at 1.86 before going long. Stop loss should be just below 1.65 (a major horizontal support). Should the trade goes in my favour, I will be looking to trail my stops up and also take partial profits as it reaches each fibo retracement level (38%, 50%, 61%) up. .

Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and