Long
News + Technical Trade
Price extended sharply to a new high for the year on the basis of the take over bid reported on October 21st, I am expecting a further upside to the price until the announcement which is expected on the November 18th
There is a retracement in the price at 23.6% FIB levels
Trading Plan
1. Enter the stock at current price levels with stop loss set below 38.2%
2. Target 1 at 100% FIB levels or the previous high.
3. Target 2 set at 127% levels or extension from a previous high (caution: on approaching target2 there is a longer term resistance levels which may impede in achieving the target. Will update the trade idea as per my plan and play once target 1 is achieved.
4. Trade to be closed either with profit or loss on November 17th as the announcement could go either ways.
Good Luck! May the price be with you!
There is a retracement in the price at 23.6% FIB levels
Trading Plan
1. Enter the stock at current price levels with stop loss set below 38.2%
2. Target 1 at 100% FIB levels or the previous high.
3. Target 2 set at 127% levels or extension from a previous high (caution: on approaching target2 there is a longer term resistance levels which may impede in achieving the target. Will update the trade idea as per my plan and play once target 1 is achieved.
4. Trade to be closed either with profit or loss on November 17th as the announcement could go either ways.
Good Luck! May the price be with you!
Trade closed: stop reached
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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.
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.