jorisd

Gartley pattern / Long setup on this oil tanker company

Long
NYSE:ASC   ARDMORE SHIPPING CORP
If the economy starts booming again, we shall see this Oil tanker company raise in value.

So I am looking to go long at the C point around $4.23 with a tight stop loss if we break the support.

Take profit target is on chart, which corresponds to the top of the channel. If this scenario plays out, I'd look for a short next.

Comment: I'm stating the obvious here, but there are large wicks on this chart so manage your risk accordingly.
Comment: Today was the dip. Just as I expected !
Trade closed manually: Pattern didn't complete, international situation is not clear so better close this one.

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Short term investment
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I like this
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