Counter-Trend Masochism, Part 1

15 ביוני 2023

SLM Everything says don't do it. The trend is exceptionally strong with this one. But if you have a penchant for masochism, note that:

- Momentum has slowed in recent days. not faded, but slowed.
- RSI 77 is ready for some normalization
- MACD has slowed and started abating somewhat.

Technically it looks like it's stalling in a nicely defined supply zone of R59.90 to R60.84.
Nicely defined stop around R63.00 (although you have to scratch back some time to find it)

I'm shorting at or around R60.50, target R54.10 stop R63.02. However don't bet the farm.