Thread by @malteseinvest

Analysis: #NYSE: #REZI

Case 19 #Resideo Technologies Inc

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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REZI 1/6

A very young stock which doesn't seem able to muster a serious challenge to the upside. Base building seems to build and after 4 months the base is gone. We're currently in the 3 month of the base - .....

REZI 2/6

....... in one month the picture will become much clearer. The trend remains #bearish until some serious upside break happens

REZI 3/6

Chart 1
Weekly Chart: As one can see - resistance is strong. Inverted #Fibs catching support at 1.414% (13.07). Weekly #pivot close off the swing low. #TL pivot (red). Weekly pivot (black)

REZI 4/6

Chart 2
Daily Chart: #SMA 40 acting as a good barometer for closes above and below. It's currently supportive. An unfilled gap exists between 24.66-21.14 - (green vertical lines)

REZI 5/6

Chart 3
Daily Chart: The strategy - printed on the image

REZI 6/6