Buying idea SNL with 31.30 stopSNL has done well and have consolidated at the top for some time. it's looking to breakthrough again. We can test this breakout with a safe stop around 31.30
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SNL trade ideas
SNL @ 14 OCT 2021Text me if you have any questions/comments for me.
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SNL
- First time doing a written analysis on SNL
- Has a history of uptrends
- Stock’s daily average volume is quite low -> can lead to strong sudden price movements
- Low average volume will also explain the stock’s price gap ups/downs
- Stock is forming a strong resistance at 8.30 levels (blue dash line)
- A successful breakout looks to be around 8.45 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful breakout before plotting entry if comfortable with the low average volume