UXIN Trend Analysis 5.3.19
Based on long-term trendline, UXIN is in a downtrend
The most recent breakout above the trendline brought price action back to the reversion to the mean
May 3rd: In a consolidation pattern
May 6th: Wait for confirmation of up/down trend, follow price action [when confirmation of buyers step in]
If breakout to the upside occurs, entry will be [$2.80]
If breakdown to the upside occurs, entry will be [$2.26]
Economic News this week: Unemployment | GDP (positive)
UXIN News: Short-seller allegations | U.S. - China trade deal
Patterns: Trendline | Flag | Consolidation | Pennant
It looks like the price action is getting pinched currently. I expect it to consolidate & move downwards before it catches steam and finds buyers again.
The most recent breakout above the trendline brought price action back to the reversion to the mean
May 3rd: In a consolidation pattern
May 6th: Wait for confirmation of up/down trend, follow price action [when confirmation of buyers step in]
If breakout to the upside occurs, entry will be [$2.80]
If breakdown to the upside occurs, entry will be [$2.26]
Economic News this week: Unemployment | GDP (positive)
UXIN News: Short-seller allegations | U.S. - China trade deal
Patterns: Trendline | Flag | Consolidation | Pennant
It looks like the price action is getting pinched currently. I expect it to consolidate & move downwards before it catches steam and finds buyers again.
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