140d range breakoutOne possible trading idea for Stock ARAV could be to take advantage of the recent breakout above its 140-day trading range. This could be considered a bullish signal, suggesting that there may be further upside potential for the stock.
For a "hot" trade, traders may consider going long on the stock at its current price level, and looking for patterns in smaller timeframes to identify potential entry and exit points. The potential target for this trade is 3.78 , based on the recent signal for a move to this level.
For a more "calm" trade, traders may consider waiting for a pullback in the stock price, possibly to the range of 2.17$ to 2.47$ , before entering a long position. This would provide a lower risk entry point, while still allowing for potential upside to a target of 7.45$ . However, it is important to note that this trade may require more patience, as it may take longer for the stock to reach the target price.
As with any trading idea, it is important to consider risk management strategies, such as setting stop-loss orders to limit potential losses and closely monitoring market conditions and news that may affect the stock price.
