This stock is displaying a classic rounding bottom breakout pattern. After the initial breakout, it successfully retested the breakout level and formed a consolidation channel. Now, it appears to be breaking out once again, indicating a potential continuation of the uptrend.
Trade Setup:
• Entry: On breakout confirmation
• Stop Loss: 88
• First Target: 98
• Strategy: Trail the remaining position using SuperTrend after the first target is hit.
This setup offers a favorable risk-reward ratio and aligns with a textbook bullish reversal structure.
Trade Setup:
• Entry: On breakout confirmation
• Stop Loss: 88
• First Target: 98
• Strategy: Trail the remaining position using SuperTrend after the first target is hit.
This setup offers a favorable risk-reward ratio and aligns with a textbook bullish reversal structure.
Trade closed: stop reached
SL hit, sudden gap down after the result.
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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.
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.