Short

SITIME CORP - Rectangle

Updated

The prices are bouncing in the rectangle. Had reached the top. To continue downards. Expected take profit level at 100 dollars level.

Note

This is a rectangle bottom. 70% chance it will break out upwards. However, we will have to wait for the breakout to trade on it.

Since the price is right now at the top of the rectangle. We will short it.
To eliminate risk. We will initiate a buy position to hedge the risk.

If the price drops below the support level and continues to drop. We limited our loss to transaction fees.

If the price drops first and then rebounds to break the resistance.
We maximise our profits.

Update take profit of the short position to 80 dollars.

Note

Price break out above 142.41, the top of the rectangle, As such, we will close the short position. And we will continue with the long.

Note

Estimated take profit at around 182

Note

Take profit at 153 since it had failed to breakthrough 161.

Short loss at -19.31%. Gain at 30%.

Net Gain at 10%

Shinlu

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