Nasdaq Composite Still in a Downtrend
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A two-day shakeout in $PENN led to a stop run below the 20-day EMA, followed by a bullish reversal candle that closed back above the EMA. The buy entry is over Wednesday’s high with a stop beneath the same day’s low.
$TWTR pulled back to the rising 10-day EMA on lighter volume Tuesday.
We like the pull back into support and look for the rising 20ema to provide support. We are trying to enter near Tuesday’s close with a buy limit order. Stop is the three-day low.
