The bullish momentum appears to have run into headwinds, yet the bulls made another upside reversal. This makes it reasonable to move along with the very-short-term swing structure and further improve the open position’s risk-reward ratio. It means locking in profits while allowing them to grow, should the bulls prove strong enough in the short term – please see trading position section for the details.

Trading position (short-term; our opinion): long positions with stop-loss at 2655 and the binding take-profit at 2750 are justified from the risk/reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care