Tight price action near resistance.What's the $PLAN?
Updated
TA,
- Breakout attempted on 2/10 but failed.
- Tight price action near 63.6 level with decreasing volatility
- Earnings catalyst and the price is consolidating till the short term moving averages catch up. Seen this with a lot of growth stocks recently. So, I gave it a name : CAT20e
FA,
- Baillie Gifford 1.3%/Druckenmiller added
-Increasing margins and sales growth
-Increased guidance
-Increased enterprise spend as economy recovers
Concerns,
- Lawsuits
- Negative earnings
High risk, Swing trade only.
Buy: Above short term pivot 66.1 on increasing volume
Stop loss: $60 invalidates thesis if it crosses the wedge downwards
Max risk: 9.2%
- Breakout attempted on 2/10 but failed.
- Tight price action near 63.6 level with decreasing volatility
- Earnings catalyst and the price is consolidating till the short term moving averages catch up. Seen this with a lot of growth stocks recently. So, I gave it a name : CAT20e
FA,
- Baillie Gifford 1.3%/Druckenmiller added
-Increasing margins and sales growth
-Increased guidance
-Increased enterprise spend as economy recovers
Concerns,
- Lawsuits
- Negative earnings
High risk, Swing trade only.
Buy: Above short term pivot 66.1 on increasing volume
Stop loss: $60 invalidates thesis if it crosses the wedge downwards
Max risk: 9.2%
Note
Not to mention there's a cup pattern with a tight handle
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.