AAP - 6.79% Potential Profit - Ascending Triangle
Clear uptrend Support with an Ascending Triangle formed within.
Target price set at a new potential resistance line.
New support confirmed multiple times on the 5-min chart.
- 5-month uptrend
- RSI + Stoch well above 50
- MACD below Signal (!)
Suggested Entry $155.33
Suggested Stop Loss $152.88
Target price $165.88
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.
Target price set at a new potential resistance line.
New support confirmed multiple times on the 5-min chart.
- 5-month uptrend
- RSI + Stoch well above 50
- MACD below Signal (!)
Suggested Entry $155.33
Suggested Stop Loss $152.88
Target price $165.88
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.
Trade closed: target reached:
7.72% profit.