Long SBE trade
Updated
SBE is setting up for a continuation of the rally after consolidating for a few months.
- The 50 day SMA (green line) is acting as support
- Stock is in a daily squeeze after consolidating for a month and could fire anytime
- Bullish pennant pattern shows potential for a break out to continue the rally
Trade:
- Buy around $39-$40.
- PT1: $53.68 (1.272 fib projection from the recent high to low)
- PT2: $59.00 (1.618 projection)
- Stop loss: $31.65
- The 50 day SMA (green line) is acting as support
- Stock is in a daily squeeze after consolidating for a month and could fire anytime
- Bullish pennant pattern shows potential for a break out to continue the rally
Trade:
- Buy around $39-$40.
- PT1: $53.68 (1.272 fib projection from the recent high to low)
- PT2: $59.00 (1.618 projection)
- Stop loss: $31.65
Trade closed: stop reached
This ticker changed to CHPT. Stop reached and closed trade.
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