$ACWX decision point!
Unclear what is going to happen... probably not a good idea to trade this right now.
Can trade small position within the channel, although risky to trade against the trend...
Bull case:
Bear case:
Can trade small position within the channel, although risky to trade against the trend...
Bull case:
- potential bull flag setup
- good relative value (in terms of performance) to S&P 500
- holding peak-price support from 2017 so far
- better to wait for confirmation of bull flag?
Bear case:
- touching medium/long-term (2011) channel resistance
- RSI-W at low levels, but not oversold yet
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.