Stock is in support area. Recently trying to make higher high. With current level, your SL is small.
Why not risk some and try what happens.
If stock hits SL, then exit. Otherwise it can be good experiment.
Reason: There is high volume whenever stock has hit support area. Obviously not selling as stock moved up only from there. We can say that is pretty good chance bottom might have formed.
NOT an high conviction trade. Might take a lot of time to give a big move. Still in accumalation phase.
Why not risk some and try what happens.
If stock hits SL, then exit. Otherwise it can be good experiment.
Reason: There is high volume whenever stock has hit support area. Obviously not selling as stock moved up only from there. We can say that is pretty good chance bottom might have formed.
NOT an high conviction trade. Might take a lot of time to give a big move. Still in accumalation phase.
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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.