TITAN- Hidden Bearish Divergence SELL!
Attached: TITAN Daily Price Chart as of 22nd March 2023
Price has triggered a SELL Signal today on account of the following reasons:
1) Hidden Bearish RSI Divergence as RSI puts in a Higher High but Price puts in a Lower High
2) Price has come back to Retest a Prior Support Zone which now can act as Resistance
3) Dow Theory Structure of Lower Highs and Lower Lows still intact so it is a Down Trend and NO Trend Reversal yet
4) Elliot Wave Count suggest Price is ready to start Wave Z down of its complex correction
Our Plan of Action is:
Short at Current Market Price= 2508
Stop Loss > 2550
for Downside Target Open to 2270
Price has triggered a SELL Signal today on account of the following reasons:
1) Hidden Bearish RSI Divergence as RSI puts in a Higher High but Price puts in a Lower High
2) Price has come back to Retest a Prior Support Zone which now can act as Resistance
3) Dow Theory Structure of Lower Highs and Lower Lows still intact so it is a Down Trend and NO Trend Reversal yet
4) Elliot Wave Count suggest Price is ready to start Wave Z down of its complex correction
Our Plan of Action is:
Short at Current Market Price= 2508
Stop Loss > 2550
for Downside Target Open to 2270
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
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.