CRSP got some attention a few months ago with the Netflix series "Unnatural Selection" in which it melted up for a while before crashing down on profit taking
As CRSP broke its minor downward trendline and came back down to a retest, a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
As CRSP broke its minor downward trendline and came back down to a retest, a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
- The recent downtrend has been broken after price recently bounced at a major support line
- The 20ma was broken, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop
- Price is now finishing a retracement after bouncing off recent highs, so we can avoid that pain by entering now that the retracement seems to be flattenting out
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
Note
Stop reached, trade closedTrade closed: stop reached
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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.