Entry conditions:
(i) higher share price for
ALQ above the level of the potential outside week noted on 8th August (i.e.: above the level of $18.63).
Stop loss for the trade would be:
(i) below the low of the outside week on 4th August (i.e.: below $17.67), should the trade activate.
(i) higher share price for
ALQ above the level of the potential outside week noted on 8th August (i.e.: above the level of $18.63).Stop loss for the trade would be:
(i) below the low of the outside week on 4th August (i.e.: below $17.67), should the trade activate.
Trade active
UPDATE (week ending 15-Aug): Trade activated on 13th August with a share price higher than the prior week's high, albeit the volume wasn't as high as hoped. Share price has since then bounced off the 10 day MA to close above both 10 and 30 day MA's at the end of the trading week.Note
UPDATE (week ending 22-Aug): Increased price range in the stock over the past trading week has created a potential outside week which provides the opportunity to raise protective stops to a level just under the range of the past week's trading range (i.e.: just beneath $18.26). Share price tested both 10 and 30 day MA's over the past trading week and ended up closing above both 10 and 30 day MA's at the end of the trading week.Trade closed manually
UPDATE (week ending 29-Aug): Updates such as this aren't normally performed before the end of the trading week, however the charts are suggesting strong relative weakness compared to the Aussie All Ordinaries (XAO), so those traders/investors with low risk tolerance may wish to close this trade out for a small loss / scratch trade. From a technical analysis perspective, reviewing the ichimoku indicator on the daily chart shows that the price action has closed below the Kijun Sen on Wednesday, part of the ichimoku indicator commonly utilised as a stop.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Detailed commentary/updates about trades (stocks, crypto & bonds) available:
ivorywolf.start.page/ (Facebook / Telegram / YouTube / personal web-page)
Like/join/subscribe for the latest!
...
ivorywolf.start.page/ (Facebook / Telegram / YouTube / personal web-page)
Like/join/subscribe for the latest!
...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.