On the weekly I see a rejection on the reistance of 132 $. We have a bearish divergence on EFI and MACD-H, and the impulse is yellow as well. RSI is still rising and %D and %K are widening, which is a bit worrysome.
On the daily, we see there is a rejection candle and with that a bearish divergence is drawn on MACD-H, not on EFI though. It would be good to enter now, althought the market open could give us a better price, or new insights on this ticker. So I’m carefully monitoring the market on monday, before entering this short.
The target is set on the weekly, and consist of a move of 2 ATR levels. Considering the history, the -1 ATR level is mostly crossed on divergences and strong pullbacks, so this sounds reasonable.
I will evaluate the market on monday en update accordingly. This could be an interesting trade.