SHLF buying opportunity?
SHLF made a ridiculous breakout at the beginning of this week. Since then has come down pretty hard as well.
So looking for potential support and buying opportunities.
After the recent bottom formation the break out occurred after mounting the 3.80-3.93 resistance area. This could now provide support. Furthermore, if SHLF was to retest this level it would also touch on the upward trendline (blue) that has been established since the bottom, providing further support.
And finally also note the gap that's still there at 3.70.
On the ichimoku cloud front:
- We are above the 4h cloud and the top of the cloud is currently sitting at the same level as the horizontal support area.
- We are below the daily cloud, and got rejected after trying to enter at the beginning of the week. So let's see if we can find support to retry conquering the cloud on the daily.
So looking for potential support and buying opportunities.
After the recent bottom formation the break out occurred after mounting the 3.80-3.93 resistance area. This could now provide support. Furthermore, if SHLF was to retest this level it would also touch on the upward trendline (blue) that has been established since the bottom, providing further support.
And finally also note the gap that's still there at 3.70.
On the ichimoku cloud front:
- We are above the 4h cloud and the top of the cloud is currently sitting at the same level as the horizontal support area.
- We are below the daily cloud, and got rejected after trying to enter at the beginning of the week. So let's see if we can find support to retry conquering the cloud on the daily.
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