Does it chat show a current pattern for entry and exit daily or weekly for a 10% gain?
7/10/2024 03:39am
**Analysis of WENA's Stock Price for Daily and Weekly Trading**:
1. **Daily Trading Pattern**:
- **Support and Resistance Levels**: The support level for WENA is at $1.62, and the resistance level is at $2.08. These levels can be used as entry and exit points for daily trades, aiming for a 10% gain.
- **Moving Averages**: The 5-day moving average is $1.71, and the 10-day moving average is $2.11. Trading above the 10-day moving average could be a bullish signal for entry, while trading below the 5-day moving average could indicate a potential pullback or bearish reversal.
- **MACD**: The MACD is at -0.27, which suggests a bearish momentum. However, the stock's price action on July 9th indicates a bullish trend, so the MACD may not be a reliable indicator in this case.
- **RSI**: The RSI is not available for July 9th, 2024. However, considering the stock's significant price increase, it is likely that the RSI would be moving towards the overbought territory, which could indicate a potential pullback or consolidation in the short term.
|Ticker|Name|Support Level|Date|code|market_code|
|---|---|---|---|---|---|
|WENA.O|ANEW Medical|1.6201|20240709|WENA|185|
2. **Weekly Trading Pattern**:
- **Support and Resistance Levels**: The same support and resistance levels from the daily analysis can be used for weekly trading.
- **Moving Averages**: The 5-day and 10-day moving averages can also be used as reference points for entry and exit points.
- **MACD**: The MACD for the weekly timeframe would be calculated based on the weekly price data. It's important to consider the longer-term momentum when using the MACD as a trading indicator.
- **RSI**: The RSI for the weekly timeframe would be calculated based on the weekly price data. It can be used to identify overbought or oversold conditions, which could be indicative of potential entry or exit points.
In conclusion, for both daily and weekly trading, the support and resistance levels, as well as the moving averages, can be used to identify entry and exit points for a 10% gain. It's important to consider other indicators like the MACD and RSI to confirm these points and manage risk.