Booking Holding Inc. Stock Code BKNG.NAS
Outlook
Price dropped below the cloud 2 days ago and had stayed and closed below the cloud yesterday. Base line is providing resistance at $1788 and the edge of the cloud is another resistance point. There was a Spinning Top candlestick pattern just before price entered into the cloud. This could have signaled the start of a price decline. Another layer of price resistance lies at $1821; where the edge of the cloud and previous price highs provide a cap. MACD is moving lower and is bearish. If price is capped below $1821, it is likely to test the previous low of $1692.
Strategy
$1789.00 Sell
$1692.00 Price Target
$1822.00 Risk Management Stop
4 weeks Trade Duration
Garmin LTD Stock Code GRMN.NAS
Outlook
Price broke below the cloud 3 days ago but the trend may be a corrective decline as MACD could be making a recovery after hitting a bottom. Price is likely to move lower to test the 50% Fibonacci point at $74.69. There is also another gap support coming in at $75.56. If MACD turns up, this price support zone of $74.69 to $75.56 can support price for another rally back to a previous price resistance of $82.58. Stop should be place below at last gap support of $71.97.
Strategy
$74.70 Buy
$82.50 Price Target
$71.95 Risk Management Stop
4 weeks Trade Duration
