Jul. 3 at 11:28 PM
$GLW >> Daily Chart >>
Watching 👀 for a possible bounce off thd 50 SMA @ 188.43
The last couple of times this support level was tested it ended up holding and the up trend continued
A bounce off the 50 SMA would need a close back above the middle Bollinger Band at 199.18
If
$GLW bounces here off the middle bb/20 SMA it could turn into the load zone if support holds
The close below this level on Friday was a red flag 🚩 signaling possible drop to the 50 SMA
After the inverted hammer 🔨
$GLW has been down 3 day's in a row
For bears 🐻 to keep banking the middle bb needs to turn into resistance and the 50 SMA would need to fail to hold if it were tested
For new bear 🐻 positions from this level there would need to be a close below the 50 SMA and it confirmed as resistance
If the middle bb is resistance on Monday there is a bear 🐻 trade between the middle bb and 50 SMA, but the easy bear money 💰 has already been made
$SPY $QQQ
