Buy SWX Idea for Buy with current price 63.87
Stop loss will be 55
Take profit 1 - 69
Take profit 2 - 74.78
SWX trade ideas
SWX Long on flat channel breakoutDaily analysis:
- Hammer candlestick on support zone. Volume at the higher end of the spectrum.
- Both breakout volume on 14th Jan is decent.
- Not much resistance to the left
Weekly analysis:
- Very big range drop and starting to form a bottom
- Big range drop on 04th of Nov means not much resistance when going long after the range breakout
Intraday analysis:
- Bear's interest in the stock seem to be decreasing based on the volume.
Extra:
- The stop lost is calculated by adding (ATR/2) to the low of the candle. It doesn't make sense to add a full 1ATR because of the long hammer tal. The stop lost would had be below the bottoming support otherwise
