SE | Short Opportunity | 84 RSI | Overextended from EMA

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SE is highly oversold and has gained over 200% the three months.

  • Looking at RSI in the weekly chart, we see that the RSI has reached 84. This is the highest level it has achieved since its IPO.


*Our second confirmation on oversold levels is that it is very far away from our 21 days moving average at $63.44. It has to at least bounce off the 21 EMA to reach new highs.

*The fib retracement tells us that it a minimum of 38.2% retracement before it could go higher at $74.50. if the bounce occurs during this retracement, it might be combined with the 21 EMA.

Looking at the chart there is no healthy support level from $52.70 to $97, this means that the trend could be quickly snapped making bull take profit.

A second support level is $46.07, which is a more reliable level than 52.70.
注释
Overbought levels.
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