There’s a classic hammer reversal candle on the weekly chart. Which was subsequently followed by a bearish candle. This is a typically bearish signal. However, I still believe we in a bull market. If indeed The hammer trade proves right and the stock falls I will be stopped out at 23202c . As the stock moves to a lower box. But if that trade doesn’t play out and the stock moves higher. I will add to my position if we get a close above 29138c. This would be a multi year high close. The last time this stock closed higher than 29138c was in July 2008.
Trade Summary 22 March 2021
Average entry: 21962c
Position size: 16.4
Stop loss: 23202c
Risk: +20336c
Risk%: +2.44%
Dividends received 13120c.
Trade Summary 22 March 2021
Average entry: 21962c
Position size: 16.4
Stop loss: 23202c
Risk: +20336c
Risk%: +2.44%
Dividends received 13120c.
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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.