CMG Potential double bottom, for risk lovers.
Updated
In terms of fundamental analysis , even the most junior finance department student will suggest to avoid CMG 0.80% stock as its crazy P/E and looks like such a falling knife.
While higher risk makes higher return , and it did give a potential long opportunity.
In weekly chart, right here is the 0.618 retracement of the rally from 2008, and a daily double bottom is about to be formed.
My game plan is to wait for the double bottom to be confirmed ( close above 323 on daily chart ),
And put a buy limit at the 0.618 retracement of the neckline breakout.
Let's see how it goes!!
While higher risk makes higher return , and it did give a potential long opportunity.
In weekly chart, right here is the 0.618 retracement of the rally from 2008, and a daily double bottom is about to be formed.
My game plan is to wait for the double bottom to be confirmed ( close above 323 on daily chart ),
And put a buy limit at the 0.618 retracement of the neckline breakout.
Let's see how it goes!!
Note
If it breaks down 295 before breaks out 323, this trade doesn't exist anymore.Note
It held 295.00, looks deja vu with the AMD trade lol.Note
it didn't really close above 323 yet, but a 1st 0.618 retracement to buy @ 307.5 looks like an OK trade!Note
start the party yo!
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