Day Trading Pre Open - 11 April 2018, page-12

  1. 1,264 Posts.
    lightbulb Created with Sketch. 115
    Morning, Burnett.

    I'm undecided on SCU at this stage. On the daily chart, I see weakness currently given that the MACD cross occurred below the zero line indicating to me an unsustainable run. I wouldn't be surprised to see further sell downs here back towards the 0.025-0.026 mark at which point it will need to build a more substantial base before being able to work back towards breaking out, and closing, above the upper downward trend line.

    This is just my 2 minute take on the situation. For me however, the support isn't there currently and I'll be waiting on the sidelines for those mid-2s at which point I'll reconsider an entry, provide MACD signals a buy (a bullish cross above the zero on the daily).

    Cheers

    Last edited by chapu: 11/04/18
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.