MEAT Long at 1.74 - 3-1 Pnl Target (30%up/10%down) Target = 2.30
Updated
Technicals
- RSI on 1 4 and daily have bottomed out or are diverging from a long down trend
- broke out of a long daily downtrend
- broke out of a shorter daily downtrend (apr 23 - may 19)
- CM Williams Fix on 1hr shows Buy signal (feb 23 - apr 2)
- VERY strong support around 1.74 (1hr, 4hr, Daily charts)
- Volume has been declining on the down trend for the past week - indicates down trend is losing momentum
Target
- $2.30 range
- 3-1 profit loss target (30%/10%)
Timeframes
- Looking for a 2-3 week trade
- any longer and signals won't apply to current trade
- RSI on 1 4 and daily have bottomed out or are diverging from a long down trend
- broke out of a long daily downtrend
- broke out of a shorter daily downtrend (apr 23 - may 19)
- CM Williams Fix on 1hr shows Buy signal (feb 23 - apr 2)
- VERY strong support around 1.74 (1hr, 4hr, Daily charts)
- Volume has been declining on the down trend for the past week - indicates down trend is losing momentum
Target
- $2.30 range
- 3-1 profit loss target (30%/10%)
Timeframes
- Looking for a 2-3 week trade
- any longer and signals won't apply to current trade
Note
I wouldn't usually buy on a 'down' day, but considering the price hit my target buy price and all my indicators lined up - I decided to chance it and wait until tomorrow or the day after to see if it pops up.
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.