AGR. Range Breakout Long

NYSE:AGR1D

Avangrid, Inc.NYSE

Description

⋅ Sep 12, 2022 2:57 PM

AGR broke above 48.50 price level. Possible Long entry with ~2:1 ratio.

Key points:

Range from January 2022 to July 2022
48.50 breakout
Pullback
Increased volume
Extension to the primary direction of the breakout

Profit Target could be around 55 or higher if the breakout happens, initial Stop Loss around 47.50.

Trade closed: stop reached

⋅ Oct 11, 2022 8:27 AM

Unfortunately the forecast was wrong and SL triggered for the trade.

Looking back for the mistakes I can define the following:

48.50 breakout have been followed by divergence what is a sign of price weakness