OSCR Earnings Beat Setup LONGOSCR on the daily chart is shown near to but below the POC line on the volume
profile anchored in April. The ZL MACD has a low amplitude histogram. On
the directional index indicator both negative and positive lines are nearly trendless
at the 20 level. The price is closer to the lower Bollinger Bands and so a reversion
to the mean would be upward price action.
I am looking to take a long trade here. The entry would be by a buy stop over
the POC line at 7.35 and the stop loss at 7.05, the low of the last red candle.
The targets are 8.75 and 9.85 corresponding to horizontal resistance lines.
This is a swing trade planning for a profit of about 30%. The stop loss of 0.30
as compared with an average target of 1.75 is about 1:5 for the risk to reward.
I may take an options trade of 1-3 months duration as well. Leave a commnet , if
you would like to know my considerations for a call option. Healthcare and medical
are relatively strong sectors right now compared with the chaotic market at large.
