TCOM Analysis
Ascending Triangle + Bullish Engulfing Outside Bar + Momentum
TCOM closed Friday with a strong bullish engulfing outside bar candle with a long wick rejection of the 14EMA and Trend Line. The Ascending Triangle breakout will give us a price target of 30.24 but to be safe with Options I would look for initial sell at 29.02 with a secondary target at 30.92. (30 call strike will work best)
Wait for a breakout over resistance before entering Long trade.
TCOM closed Friday with a strong bullish engulfing outside bar candle with a long wick rejection of the 14EMA and Trend Line. The Ascending Triangle breakout will give us a price target of 30.24 but to be safe with Options I would look for initial sell at 29.02 with a secondary target at 30.92. (30 call strike will work best)
Wait for a breakout over resistance before entering Long trade.
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