First is the cycle, 180days, 90 trading days and 30 trading days all lining up on that high day. I have included the trend line as well that i have in place and what justifies my target i feel also based on the 195 EMA positioning.
Next i have shown the divergence we are seeing on the indicators on the daily time frames. Certainly something i am aware of and the increased volume also could be signalling a top coming close?
Next i have the price cycle levels from the all time lows that have been squared out to give the following levels.
I think 69.68 level is a good target and a good risk to reward play should we get an entry any where around $76
And also here i have included an old chart of the repeating ranges with fib levels
One thing to consider also is that the weekly range of 78.6% has been completed down to 75.39 and the 100% level is to 74.77 so might be in the back of my mind when taking a position this week
I don't trade COH on an regular basis but i certainly would be thinking about selling if i held the stock and was worried short term correction. :)
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