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Timonrosso

NIBE Industries Short brewing thanks to an M Formation

Short
NIBE INDUSTRIER AB SER. B (OMXSTO_DLY:NIBE_B)  
Timonrosso  
OMXSTO_DLY:NIBE_B   NIBE INDUSTRIER AB SER. B
Trend Analysis Chart Patterns Fundamental Analysis atnibe sweden swedishkrona swedish
2
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trendanalysis chartpattern fundamental atnibe sweden swedishkrona swedish
M Formation has clearly formed on the daily chart.

The price has broken below the Neckline which is showing more downside to come.

We have other indicators showing a downtrend momentum including:

200>20>7
RSI<50
My first target will be at 43.22
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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