As you may know I bought DBA back again when it pulled back to the 50 day moving averages. Then it dropped some more and I added more. I hold it for portfolio mix reasons, not as a trade. But will respect the ‘stop loss’ parameter below.
Here is the daily chart updating the situation. As it approaches its lower parameter to keep the bull case intact I thought it would make a good, low risk setup for NFTRH+.
The key level not to be violated is the May low, the channel bottom and the SMA 200. In other words, a weekly close below 20.75 would ruin the daily chart. As long as that holds, the 2016 rally is still intact.
Buy Target: 20.80 to 21.25
Sell Target: A higher high to June, above 23 (or hold if long-term bullish)
Stop Loss: Daily or weekly close below 20.75 to 20.50, to suit risk tolerance.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.