Indra: A Head and Shoulders may drag the stock price to 6.41€

My previous analysis told to enter IDR when it reached 6.81-7€ level. However, the shape of a Head & Shoulders pattern has been confirmed today in H4 graph and we might experience further losses on the stock price, up to 6.41€ (lower bound of the slightly bearish channel it is forming).

评论:

Just realised that RSI might drop below 30 anytime soon. Should this be the time to buy? Depending on if it reaches 6.81€, breaks throught it or it doesn't reach at all.

评论:

Today, Indra reached 6.815 and even got below this level. Markets are trying to bounce back after yesterday's global sharp fall. Indra investors may see this as an opportunity to jump on the share and start the new pullback, confirming its sideways movement and dismantling H&S prophecy (bullish trend reversal).

交易手动结束:

Indra is approaching Earnings Realease day and it might be a good time now to close opened long positions as July 14 has already passed and IDR has not even surpassed 7.50 level again.