ABCL - Tight bullish flas
Updated
Nice secondary entry to add to your position.
After breaking out of the previous flag, price consolidated again for almost a week on decling volume.
Enter the stock if it moves over the high from the previous day.
Stoploss can be set at the low of the previous day (tight stop loss) or underneath the rising trend line (loose stop loss)
In a longer term perspective the $15-16 area is a place of congestion and price could rally to this area before taking another breather. The 10 and 30 week MA's are also a bit far so price could get extended when entering this zone.
This stock is already in a stage 2 (Weinstein), so could deserve a place in your LT portfolio.
Increase in inst. owernship.
After breaking out of the previous flag, price consolidated again for almost a week on decling volume.
Enter the stock if it moves over the high from the previous day.
Stoploss can be set at the low of the previous day (tight stop loss) or underneath the rising trend line (loose stop loss)
In a longer term perspective the $15-16 area is a place of congestion and price could rally to this area before taking another breather. The 10 and 30 week MA's are also a bit far so price could get extended when entering this zone.
This stock is already in a stage 2 (Weinstein), so could deserve a place in your LT portfolio.
Increase in inst. owernship.
Trade active
Opened some $15 calls for 21 april in the beginning of the trading day. Was a strong open but fell back to the trendline.Although the trend line is crossed, the price is still in the upper range of yesterday.
Monitoring the action and feeling semi-confident.
using a mental stop loss 13,7
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