Long
Cup and Handle Formation for a Possible Long Setup
What I see...
+ Cup & Handle
+ Significant accumulation since early April
+ Rising MACD
+ Very strong weekly chart with multiple bullish break-out signals
+/- Earnings ahead!
- Multiple gap-ups in the past few days
- -1d high breached Cup/Handle high but retraced
- Price approaching falling 50MA = potential resistance
- Lots of upper shadows throughout past week
Game Plan...
Long entry above -1d high
Stop at -2d low
Target at Low back in early March to fill the gap
+ Cup & Handle
+ Significant accumulation since early April
+ Rising MACD
+ Very strong weekly chart with multiple bullish break-out signals
+/- Earnings ahead!
- Multiple gap-ups in the past few days
- -1d high breached Cup/Handle high but retraced
- Price approaching falling 50MA = potential resistance
- Lots of upper shadows throughout past week
Game Plan...
Long entry above -1d high
Stop at -2d low
Target at Low back in early March to fill the gap
Note
+ Day-low confirms support level+ Low vol. day
- gap down and closed the day in the red
:: keeping the set-up for now; today's pull back may not be significant as vol. was low
Note
+ Low vol. day+ a blue bar on a down day
:: Keeping the setup
Trade active
+Trade trigger today+A very healthy gain!
Note
Moved Stop to Break-even.Trade closed: stop reached
Stopped out today at BE.
Shake Shake Leg
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.
Shake Shake Leg
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.