Watching for a consolidation breakout in Bausch.
With the market downturn, I haven't taken many long trades lately. But this one popped up on the screener the other day. It is consolidation near a recent high. Prior patterns like this have seen the price run higher... if it breaks the consolidation to the upside.
Expected profit is roughly 20%, while downside risk is about 5% (4:1 reward:risk).
Disclosure: Not long yet. Want to see a break higher, out of the consolidation, preferably on a high volume day.
With the market downturn, I haven't taken many long trades lately. But this one popped up on the screener the other day. It is consolidation near a recent high. Prior patterns like this have seen the price run higher... if it breaks the consolidation to the upside.
Expected profit is roughly 20%, while downside risk is about 5% (4:1 reward:risk).
Disclosure: Not long yet. Want to see a break higher, out of the consolidation, preferably on a high volume day.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.