SHAK is another speculative/volatile name with a bottoming pattern that has recently broke out and short squeezed. SHAK has been consolidating right under a key level of resistance at 71.60 and created 3 inside candle days in a row on the daily chart. The price action on 1/16/2020 is also significant where price created a high volume hammer on the daily. SHAK looks ready to take off after it plows through the 71.60 level.
Entry - 70.05
Stop loss - 68.65s
Target 1 - 75.00
Target 2 - 80.00
Entry - 70.05
Stop loss - 68.65s
Target 1 - 75.00
Target 2 - 80.00
Note
Nice consolidation pattern at highs on the 30m chart (Ascending Triangle).Trade closed: stop reached
Yesterday I moved my stop loss near breakeven after the failed breakout and got stopped out. SHAK looks like it recovered it's dip and trying to breakout again. Trying to control my emotions here but I can't help but feel angry over getting stopped and SHAK running.
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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.