Hey guys! Anyone eyeing on$SUNNY OPTICAL(02382.HK)$Prices abiding by a descending trendline and are on bearish momentum. We see the potential for dip from our sell entry at 126.2 which is a graphical overlap. Probably going to short to our Take Profit at 100.8 in line with 61.8% Fibonacci retracement. I'll have my stop loss potentially at 133.90in line with 61.8% Fibonacci projection. Prices are trading below the ichimoku clouds, further supporting our bearish bias. Entry: 126...
Hi everyone! Anyone else looking at$SUNNY OPTICAL(02382.HK)$as well?? What do you guys bout that ascending trendline break? legit? If price retraces back to that last swing high where my entry is, I'll probably consider shorting from 225.2 to 200.87 where the next swing low aligns with the 100% Fibonacci projection and 78.6% Fibonacci retracement. In case I'm wrong, my stop loss would be at the next swing high at 233.8. Entry:225.2 Take Profit: 200.87 Stop Loss:233.8