VYNE - upTrend is underway
VYNE gapped strongly on 25th January, breaking out of a 10-month resistence @ 2.68 but alas failed to hold on to this level as it then gave up all the gains over the next 1 week to close the gap before attempting to reverse up again.
It finally broke and CLOSED above this 2.68 resistence (now turned support) on 3rd Feb, retesting this new support over the next few days before springboarding off decisively today with a huge green candle, signalling that it's uptrend is now underway! :D
Initial stop loss just below 2.68 (trail stops up with at least 12%-15% wiggle room on the way up). Expect to see some consolidation each time the stock hits into some old "resistences" on the way up.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to let me have your thoughts ! :)
It finally broke and CLOSED above this 2.68 resistence (now turned support) on 3rd Feb, retesting this new support over the next few days before springboarding off decisively today with a huge green candle, signalling that it's uptrend is now underway! :D
Initial stop loss just below 2.68 (trail stops up with at least 12%-15% wiggle room on the way up). Expect to see some consolidation each time the stock hits into some old "resistences" on the way up.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to let me have your thoughts ! :)
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