Buy opportunity: Continental (CON), wait for MACD buy signal
CON had a huge drop recently. As a result RSI is in the oversold zone, and MACD will give buy signal soon.P/E RATIO: 10.30 (considered low comparing to DAX index average P/E ratio)
Entry strategy: wait for bullish candle which cross the 163 price. Maybe we will need to wait a couple of days to see that confirmation candle on the chart.
SL: 152 (-6.7%)
TP: 181 (+11%)
Note
Possible double bottom pattern is forming. Wait for bullish confirmation candle before opening the trade.Note
Still waiting for a bullish candle which can cross the entry level.Order cancelled
Price hasn't reached entry level. Idea became invalid.
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If you think this analysis is useful and you want to receive new updates about this idea, leave your comment or your LIKE!
Thank you for your support and may the markets be with you!
Thank you for your support and may the markets be with you!
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.