This stock was battered and has been on a downward trajectory since May 2019. However i am observing signs of fatigue from the bears. The blue zone was an important resistance which was ultimately pierced by price ,price then came back last week to retest this zone and closed with a good inverted hammer. I take this trade bullish with an ultimate target of around 25. This trade is in 3 parts,the 1st part is to just get risk back in the account and hopefully after we hit 1st TP we pullback and go for the jugular with TP2 and 3.
Entry: 3 small positions @ 20.78
SL: 19.80 ( slightly below the round level of 20)
TP1: 21.94
TP2: 22.90
TP3: 24.80
Remember risk management is key
Entry: 3 small positions @ 20.78
SL: 19.80 ( slightly below the round level of 20)
TP1: 21.94
TP2: 22.90
TP3: 24.80
Remember risk management is key
Trade closed: target reached
1st Tp done!
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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.