Entry conditions:
(i) higher share price for
RGN along with swing up of indicators such as DMI/RSI, and
(ii) observation of market reaction at the potential resistance level at $2.23 (from the open of 10th April) after closing above 50 day and 200 day MAs.
Stop loss for the trade would be, dependent on risk tolerance:
(i) a close below the 50 day moving average (currently $2.11), or
(ii) below the support level from the open of 13th January (i.e.: below $2.06), or
(iii) below the support level from the open of 17th March (i.e.: below $2.03).
(i) higher share price for
RGN along with swing up of indicators such as DMI/RSI, and(ii) observation of market reaction at the potential resistance level at $2.23 (from the open of 10th April) after closing above 50 day and 200 day MAs.
Stop loss for the trade would be, dependent on risk tolerance:
(i) a close below the 50 day moving average (currently $2.11), or
(ii) below the support level from the open of 13th January (i.e.: below $2.06), or
(iii) below the support level from the open of 17th March (i.e.: below $2.03).
Trade active
UPDATED (week ending 17-Apr): Trade originally detected at end of week ending 11th April when share price had closed above 200 day MA on 10th April; trade activated on 14th April with DMI and RSI swinging upwards, although it should be noted that volume is mediocre and there appears to be a bit of trouble breaching the potential resistance level at $2.23 (which carried on throughout the remainder of the week). Watch and observe...Note
UPDATE (week ending 24-Apr): Share price action managed to overcome the potential resistance level noted in last week's comment, with the charts suggesting the opportunity to raise the stop loss comfortably to either under the 50 day moving average (currently $2.12) or the 200 day moving average (currently $2.19), depending on risk tolerance.Note
UPDATE (week ending 02-May): A terrific week of price action for RGN well past the prior resistance area of $2.24 from the open of 28th November 2024 now suggests from the daily charts to raise the stop to a protective stop just under this area (since this area hasn't been tested from the upside as yet as a support zone). For those more risk tolerant, consider maintaining the stop just below the 200 day moving average (currently $2.19). Trade now moved to 'further bullish potential'.
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youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
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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.
Detailed commentary/updates about trades (stocks, crypto & bonds) available:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
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.