CPNG - Pennant Breakout test
Updated
- Price coiling above 200DMA on a 7x volume. Yesterday's reversal was very timely. now it needs to push to 20 and again base there for a breakout to test 27 where sellers would show up.
- Plenty of time to get in. test of 20 and breakout will provide bigger R/R as nervous sellers could put downward pressure below.
- Disclaimer: Long via commons at 16.63
Trade active
Holding well above the MAs and around the trendline. Breakout will need additional volume...Likely to remain choppy below 20.Trade active
Playing as per plan. I got shaken out last week, but set up is too strong to ignore. Will add soon.Trade closed manually
As expected acting choppy. Closed yesterday. will watch for another entry.
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.