NYSE:APRN
Hey, traders.
It's time to look at BLUE APRON HOLDINGS INC.
What's on the chart:
1. This instrument has "its own game". Paper does not follow the market. Look at how this instrument behaved when the market fell in March: it confidently held the resistance level of 2.02.
2. The level is 14.74 and it was formed on April 1st.
3. On April 02 a false breakout of the level by 1 cent was made. The instrument rolled back down but did not enter the short zone.
4. On June 02 another attempt of level retest by the long player was made, but the price doesn't roll back to the short zone again.
5. There are obviously two strong players in the paper: the short player doesn't let the price rise above 14.74, the long player, in his turn, tries to raise the price to the resistance level.
6. We look at the nature of the daily bars chart: we can clearly see the parabolic rounding.
7. At the same time, the support level is moving higher and higher.
8. The long player is gaining a position to break down.
9. Pressure under the level.
Safe scenario:
Entering the long position only after the breakout and fixation above the level.
The first day bar must break through the level. The second daily bar should open and close above the level. The entrance to the level retest.
SL under the breakout bar.
The deal is a long-term one.
Aggressive scenario:
Entry to the breakout.
A Buy Stop Limit order is placed above a false breakout at 14.76-14.78.
SL is placed behind the break-down bar.
Hey, traders.
It's time to look at BLUE APRON HOLDINGS INC.
What's on the chart:
1. This instrument has "its own game". Paper does not follow the market. Look at how this instrument behaved when the market fell in March: it confidently held the resistance level of 2.02.
2. The level is 14.74 and it was formed on April 1st.
3. On April 02 a false breakout of the level by 1 cent was made. The instrument rolled back down but did not enter the short zone.
4. On June 02 another attempt of level retest by the long player was made, but the price doesn't roll back to the short zone again.
5. There are obviously two strong players in the paper: the short player doesn't let the price rise above 14.74, the long player, in his turn, tries to raise the price to the resistance level.
6. We look at the nature of the daily bars chart: we can clearly see the parabolic rounding.
7. At the same time, the support level is moving higher and higher.
8. The long player is gaining a position to break down.
9. Pressure under the level.
Safe scenario:
Entering the long position only after the breakout and fixation above the level.
The first day bar must break through the level. The second daily bar should open and close above the level. The entrance to the level retest.
SL under the breakout bar.
The deal is a long-term one.
Aggressive scenario:
Entry to the breakout.
A Buy Stop Limit order is placed above a false breakout at 14.76-14.78.
SL is placed behind the break-down bar.
Order cancelled:
model is broken