PSQ Proshares Trust: Short opportunity on monthly.
PSQ is trading inside a 1M (monthly) Channel Down (RSI = 36.191, MACD = -3.690, Highs/Lows = 0.0000) which last December made its Lower High. A Death Cross (MA50 under MA200) formation occurred in March on 1D and after a 27.60 bottom, the price has been rebounding towards the MA200.
Last time the same pattern occurred was in 2016. The rebound resulted in testing and even marginally breaching the MA200 before collapsing to a new Lower Low and continuing to a very prolonged bearish sequence to October 2018.
We expect a similar price action and our short target is 25.00.
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Last time the same pattern occurred was in 2016. The rebound resulted in testing and even marginally breaching the MA200 before collapsing to a new Lower Low and continuing to a very prolonged bearish sequence to October 2018.
We expect a similar price action and our short target is 25.00.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial