Another Possible Spike towards $5.08CLWT is more attractive if closes above $3.88.
Target: $5.08
Stop Loss: $3.50
CLWT trade ideas
$CLWT - Move Above MA's Trend Possibly StartingEuro Tech Holdings Co. Ltd. engages in the manufacture and distribution of water treatment equipment, laboratory instruments, analyzers, test kits and related supplies, and power generation equipment. It operates through the Trading and Manufacturing, and Engineering business segments. The Trading and Manufacturing segment sells water and waste water related process control, analytical and testing instruments, disinfection equipment, supplies, and related automation systems. The Engineering segment involves the development, engineering, production, sales, and servicing of environmental protection equipment, energy conservation, and related products. The company was founded in 1971 and is headquartered in Hong Kong.
SHORT INTEREST
8.21K 09/30/19
P/E Current
-5.73
P/E Ratio (with extraordinary items)
93.31
Yesterday it run from 2 to 8. This will run to May 14thYesterday it run from 2 to 8. This will run to May 14th before SELL signal detected.
Basic idea/play on $CLWTThis is a basic idea to short $CLWT due to it being overextended and I can not see it getting any higher now unless it has the same amount of buying interest and volume which I can not see happening due to the it having HOD at 4.20 and then crashing back down to the 3.10 range. Also I noticed the supports at the 38.20% and the 61.80% fib levels did not hold and the size of the candles that crash through the supports tell me that there was a lot of momentum going right through them supports like a crusade of bears attacking a family picnic :)
5 min chart level:
I can see this spiking down in the morning maybe or fading towards the support 1 line and depending how well this supports holds I may cover here but if it crashes through again without much of a fight I can see it reaching the 100% fib level where I will cover depending on if it holds which I think it would do.
The only thing that worries me slightly is if you look at the daily chart its quite messy and has been above and at the HOD plenty of times before in the not to distant past but I will wait for the market to open and watch the price action to gauge what this ticker is doing.
