Strongly inclined to sell ARM due to MACD bearish crossover and potential head and shoulders pattern.
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Now finally, Plan C , we're talking about the company " Arm". Can you guess what this transaction is, is it a purchase or a sale? You can see in this huge upward move, this move that exceeded 40% , the MACD indicator remained at the top, didn't it?
It remained at the top and stayed above the signal line.
But what just happened? We recently broke and closed down, and are trending downwards on the MACD indicator relative to the signal line. For me, Plan C is an additional sell position here on ARM stock.
If you look at the chart, we will see the beginning of a break in the upward trend lines.
On a larger timeframe, we can see a potentially large head and shoulders pattern forming here on ARM Holdings shares. Therefore , I am strongly inclined to sell ARM stock.
Of course, the stop-loss order would be a close above the signal line here on the MACD indicator against the signal line.
What this channel has said about $ARM
Verified Investing has 2 calls on this stock; only the adjacent ones are shown.