Support bounce in an Uptrend Corridor.
It might be a short-term trade (potentially intraday), depending on price action.
- 5-month uptrend
- RSI and STOCH well above 50 on the 5min
- MACD well above Signal on the 5min
Suggested Entry $39.14
Suggested Stop Loss $37.48
Target price $46.58
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
EDIT: Changed Entry / Stop Losses
It might be a short-term trade (potentially intraday), depending on price action.
- 5-month uptrend
- RSI and STOCH well above 50 on the 5min
- MACD well above Signal on the 5min
Suggested Entry $39.14
Suggested Stop Loss $37.48
Target price $46.58
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
EDIT: Changed Entry / Stop Losses
Note
*Re-Testing VWAPTrade closed: target reached
2.89% profitLack of price action and disappointing volume.
Note
Might re-enter at the below conditions:Suggested Entry $40.05
Suggested Stop Loss $39.24
Target price $46.58
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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.