Price is below the yearly Pivot Point and the yearly VWAP "gap" (volume weighted average price), its the thickest blue line, the other blue lines are lower time frames which also play a role in their own.
I prefer this type of setup to trade, being below average price and after hitting a bigger support which held (green dotted line) we look for signs of reversal, we need to test an area a bit lower where we can then apply our risk managed trade at R204. It can by all means continue further down, but we have a higher probability here of a reversal. Some might see this as an "Inv HNS", I don't look at patterns. Good luck.
I don't like this percent gain vs time on this stock, but see how it goes.
I prefer this type of setup to trade, being below average price and after hitting a bigger support which held (green dotted line) we look for signs of reversal, we need to test an area a bit lower where we can then apply our risk managed trade at R204. It can by all means continue further down, but we have a higher probability here of a reversal. Some might see this as an "Inv HNS", I don't look at patterns. Good luck.
I don't like this percent gain vs time on this stock, but see how it goes.