Hello fellow traders. Bngo has been in an accumulation pattern for a few weeks now. This stock is in a massive uptrend and has been a major gainer in my swing trades/portfolio. It bounced twice from the .236 fib level and is now on the cusp of breaking out of the symmetrical triangle; hopefully bullish. The ten days it has been in accumulation gave the emas some time to catch up after that incredible bullish run so now the 14ema is "only" about 10% below the current price and could be support (in addition to the fib level) in case the price falls.
I hold this for the long term and keep trading when the opportunities present themselves. This may be one of them.
Safe trades!
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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
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Up we go!
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We broke out of the triangle. Now we need to overcome that resistance. Then we have a nice clear canvas to paint green!