gNnairdA

Shorting opportunity with 2 head an shoulders!

Satış
TSX:BHC   BAUSCH HEALTH COMPANIES INC


On the Daily chart the rsi has a bearish divergence on both previous peaks indicating that the bulls are losing steam. On top of that the rsi even forms a head and shoulders aswell .
38.4 seems to have been an historical resistance in the summer of 2016.
However, judging from the MACD I don't think there is enough momentum to push it down through 36.6 this coming week,
so I believe the price action may form a head and shoulders and then with a more favorable MACD to provide the right time to short , especially if the RSI crosses the 50 EMA

I may miss the opportunity to short by waiting for the right shoulder to form but owell. a 1.5 risk to reward scenario

Feed back welcomed!

Feragatname

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