Long

swing trade off support and trend line

Updated

Solid setup off trend lines and support especially considering that this comes post news gap retracement and post earnings report. Since the "sell the news and sell the earnings" haven't resulted in breakdown of longer term support I like the setup. I also like the trend line forming from the day before the news gap and current.

Lower trend line will act as my stop near term.

Note

I am still holding this with the retests of the support line. Such is the life of a swing trade...

Note

I have remained in this position since the support is not broken. Additionally I like the fact that short position is near multi year low level as this base is being developed. Fundamentally the business appears to be true to management plan and expectations. Therefore I hold with a belief that this will be a high % swing when the move comes.

Note

Earnings reported yesterday. Looking to see the impact on technicals next couple of days. Holding up and the report maintains that the company is executing and growing inline with plan. I intend to hold unless this breakdowns below the established trend line I have. I am betting that after this consolidation period and the reiteration of fundamentals that there is solid upside.

Note

I have had the time to do a good amount of DD on this and as such redrew my trend line and adjusted my risk tolerance(not demonstrated by this chart)...it was tested on June 1 but also validated by the candle pattern that developed and supported by the volume spike. Additionally on this day there were some insider buys from CEO and SVP executed and filed same day as well as a material 8k that is (+). Near term risk is US position on Paris Agreement. If US remains I likely remain in this with chart holding up...If US withdraws I may exit immediately and see what chart does. The DD is solid and the company should be able to deliver but technically I may be out with a plan to enter again lower.

Note

Going to bump up against the trend line that happens to coincide with the the 200ma(not visible on this idea chart). Then there is the March 1 spike at 3.12. Should be some trading pivots in here at those levels. Longer swing trade looks interesting to mid 4's. I intend to hold my swing trade since I have accumulated a large position during the basing period.

Trade closed: target reached

Resistance line reached, this coincides with 200ma, swing trade can be closed.

willowcharts

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