Hello fellow traders,
A historical high at $96.44 USD/share was made for DAI (Daimler) in the year 2015; after that the price was losing in value heavily and reached a low at $ 52.16 USD/share in 2016. Since that time DAI has been trading in a corrective phase and forming a minor upward movement. Anyway, according to my technical point of view, DAI has been rejected triple times at the price zone around $ 73.4x USD/share, so namely at around the level of 0.50 Fibo retracement measured from the swing high in 2015 to the swing low in 2016. The 0.618 Fibo level is probably the coming target for DAI to reach and in that case, DAI will be traded on our drawn upper trend line channel and it will lead the price action to the next level price from $78.xx USD- $82.xx USD/share.
I prefer to buy and hold DAI when it will make its next minor swing low to touch the lower yellow trend line and swing up again.
Take your look at the depicted chart for more reference.
Trade well!
Makkaba
A historical high at $96.44 USD/share was made for DAI (Daimler) in the year 2015; after that the price was losing in value heavily and reached a low at $ 52.16 USD/share in 2016. Since that time DAI has been trading in a corrective phase and forming a minor upward movement. Anyway, according to my technical point of view, DAI has been rejected triple times at the price zone around $ 73.4x USD/share, so namely at around the level of 0.50 Fibo retracement measured from the swing high in 2015 to the swing low in 2016. The 0.618 Fibo level is probably the coming target for DAI to reach and in that case, DAI will be traded on our drawn upper trend line channel and it will lead the price action to the next level price from $78.xx USD- $82.xx USD/share.
I prefer to buy and hold DAI when it will make its next minor swing low to touch the lower yellow trend line and swing up again.
Take your look at the depicted chart for more reference.
Trade well!
Makkaba