Contrarian buy in
F
looks relatively attractive. We continue to see some very nice MACD divergence on daily and price has already retraced by 50% of the move up in early 2019. Today's bullish engulfing candle (if formed) might indicate first sign that the bottom is in.
Trade is to buy at current levels, with stop at around 7.4$ and target of around 11.5-12$. Stop is likely to be moved higher, if more evidence is received that the bottom is in.
F
looks relatively attractive. We continue to see some very nice MACD divergence on daily and price has already retraced by 50% of the move up in early 2019. Today's bullish engulfing candle (if formed) might indicate first sign that the bottom is in. Trade is to buy at current levels, with stop at around 7.4$ and target of around 11.5-12$. Stop is likely to be moved higher, if more evidence is received that the bottom is in.
