CFD Trading – Sell Seagate Technology (STX.NAS) @ $48.75. Stop at $51.25 and target at $44.90

Seagate Technology Plc Stock Code STX.NAS

Price broke below the cloud on 10 July 2020 and during a pullback, price was capped by the upper boundary of the cloud. After reaching a high of $50.82 on 23 July, we saw a large black candle which is a sign of an end to the price correction. Conversion line and Base line had a bearish crossover on Friday, hinting of a bearish trend going forward. Lagging Span is below price of 26 days ago and inside the cloud. MACD is bullish but MACD is just above the zero line and we could be about to see a bearish crossover as well as a move below the zero line.

$48.75                Short Sell
$44.90                Price Target
$51.25                Risk Management Stop
3 weeks              Trade Duration

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