Well I'll keep this stock post to pure simple technicals. The tech's being that after pulling back throughout this week, and an accelerated intra-day selloff yesterday due to speculation of Nike being involved with the FIFA indictment by the U.S. Justice Department (I'll post a screen shot of a news wire in regards to this). Anyhow price has formed a doji candlestick pattern showing the diminishing will of sellers to continue selling into support, and buyers bidding in on the dip. I will in fact be a little more cautious in trading this awaiting further confirmation of buyers stepping into the market by forming a "morning star" candlestick pattern, or by simply forming another doji / pinbar / or hammer candlestick. I personally tend to place my stops a bit wider then most are comfortable with so that is the reason that I do not really post where I put stops at, but for this post I will show where I would be looking to be placing my stop orders (Stop positioning will be outlined by a red dashed line on the chart.)
News wire on the U.S. DOJ Indictment of FIFA:
gyazo.com/7c71564197...a2001064143dd17e9343
Cheers =)
Ooops I forgot to outline where I would place my stops on the chart... Apologies lol. But I look to place my stops between the 98.00-98.20 area.
Do note: I did not place a trade target because I plan on averaging my way into a position that'll be larger than originally entered. I will be keeping my eyes on major round numbers to take some profit off the table (Ex: $110.00, $120.00, etc.).
News wire on the U.S. DOJ Indictment of FIFA:
gyazo.com/7c71564197...a2001064143dd17e9343
Cheers =)
Ooops I forgot to outline where I would place my stops on the chart... Apologies lol. But I look to place my stops between the 98.00-98.20 area.
Do note: I did not place a trade target because I plan on averaging my way into a position that'll be larger than originally entered. I will be keeping my eyes on major round numbers to take some profit off the table (Ex: $110.00, $120.00, etc.).