Its a long time that i have posted 1.Fund :COVID-19 etc not very important for the small time frame i expect this to work. 2.Techn: a.If you notice the stock has used the 61.8 fibo as a resistance point in the past and i believe there is high chance it will happen again. b.A reverse h&s has formed.Not textbook form but i have noticed that it tends to work.(could pass as an upwards channel also) c.The price bounced on the 50ema and and seems to just break over the 75$ resistance. d.14d Stoch are at the high side e.MACD is almost at signal To sum up :67-68 SL and TP at 99.5 good R/R .Expect this to play till start of May Points to consider 1.If you look at 1h its very likely that i have missed the retest and price moves up. 2.The other factor i have my doubts about this is that the S&p and DJ are both very close to resistance lvls so a general downwards move could drag this down. Hope it helps Good trading
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Well up until now it seems a good play.Caught the breakout price retested support and seems in premarket to gap up.
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Im a bit cautious cause the 90$ resistance seems to hold great.Moved SL to entry.If i breaks 90 it will reach TP target
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Overall happy about the pick broke the 90 resistance .Doubt it will hit TP this week.I bilieve it will drop to 90 again or even a bit lower and then it will go to 100$