Wednesday, May 27 Morning Big Cake Latest Thoughts: Go Long First Intraday

Yesterday during the Asia-Europe session, the Big Cake🫓 kept ranging between 778 and 765, swinging back and forth. In the short term, as long as you don’t get stuck in a rigid mindset, every push-up and pullback is an opportunity. Of course, this range-bound trend has not continued to this point; the target is to consolidate around the 758 area.

On the four-hour chart, in the short-term timeframe, with the bears continuing to increase sell volume and drive downward, the smaller timeframe has once again turned weak. However, it’s worth noting that the boll trajectory is not continuing lower—instead, it is showing a tightening/closing-in shape. After the MACD lines finish consolidating, they form a death cross to the downside. DKJ’s three lines are collectively diverging downward. Worth noting: the current J value has entered the oversold zone, and there are signs of a turnaround at any time. As of now, the price is relatively low, so it’s not advisable to chase shorts too aggressively. For the intraday outlook, first look for a rebound.

In the morning, consider going long in batches around the 755-750 area, targeting the 770-783 area.