Lumen Technologies - Bullish divergence

Jul 15

On the above 12 day chart price action has corrected over 90% since early 2022. Now is an excellent moment for a long position. Why?

1) Price action and RSI resistance breakouts.

2) Regular bullish divergence.

3) Support on past resistance. See 2 month chart below.

Is it possible price action drops further? Sure.
Is it probable? No.

Ww

Type: trade
Risk: 6% or less
Timeframe for long: This month
Return: Not got a clue


2.month

Jul 24

Trade active

Past resistance confirms support.

Jul 24

Note

"Lumen Technologies, Microsoft Collaborate for AI, Digital Improvement"

tradingview.com/news/mtnewswires.com:20240724:A3184500:0/

Jul 30

Note

Now up a massive 60% inside 15 days. Wonderful.
Price action is overbought.
Now wait for a higher low. Will say elsewhere where that is.

Jul 30

Note

180% inside 15 days!!

Jul 31

Note

240% from 20 days ago on signal print, what a beast!

Aug 6

Note

Yesterday's sellers about to pay the price for their treachery ;-)

Aug 6

Note

Now up over 300% in the last 20 days.
Who said the market was crashing? ;-)

Aug 6

Trade closed: target reached

Resistance reached.

Oct 11

Note

Still many questions about this one... it is also obvious many are long.
If you're going to remain long, get a parachute. Support is 70% correction below.