We may be near the end of an accumulation phase: the RSI indicates a bullish divergence, while the stock has been consolidating for some weeks and is about to break out.
I believe that this could be, once again, a good trading opportunity. If the breakout happens with volume, I can see the stock in the high 20s range.
Personally I wouldn't risk more than 1% of my total capital on this trade. The risk/reward ratio is definitely there.
Disclaimer: this is not financial advice, I am an amateur trader, trade at your own risk.
I believe that this could be, once again, a good trading opportunity. If the breakout happens with volume, I can see the stock in the high 20s range.
Personally I wouldn't risk more than 1% of my total capital on this trade. The risk/reward ratio is definitely there.
Disclaimer: this is not financial advice, I am an amateur trader, trade at your own risk.
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.
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.