Great technical signs , I give it a B+.
Sign of nice volume after we broke up above the 200 dma
Moving average turned upward
Contraction in volume is beautiful
Basing pattern extremely tight
Sector is in a nice uptrend
One negative is that our last big run up was around December which puts a little potential for overhead supply resistance in the mix . But I did have several months to digest and if we do see a break out then I think that it is fully possible and likely for this to break out above that december resistance and into smooth sailing territory . That's what pushes this into a B+ instead of an A.
I normal would wait for a break up from this basing period but I am a little busy this week and since the basing range is so tight I can set a stop very close at $5.75 giving the stock tons of room while taking on a comfortable risk vs reward . So Monday morning entry for me ...
Please excuse that previous trade shown on chart , I am using my phone for this one as I'm on the road so I'm not touching the chart drawing tools to update the plan like I normally would . I think it's an idea that shows potential promise and wanted to share with everyone, regardless of my limited current setup .
Good luck ~
Sign of nice volume after we broke up above the 200 dma
Moving average turned upward
Contraction in volume is beautiful
Basing pattern extremely tight
Sector is in a nice uptrend
One negative is that our last big run up was around December which puts a little potential for overhead supply resistance in the mix . But I did have several months to digest and if we do see a break out then I think that it is fully possible and likely for this to break out above that december resistance and into smooth sailing territory . That's what pushes this into a B+ instead of an A.
I normal would wait for a break up from this basing period but I am a little busy this week and since the basing range is so tight I can set a stop very close at $5.75 giving the stock tons of room while taking on a comfortable risk vs reward . So Monday morning entry for me ...
Please excuse that previous trade shown on chart , I am using my phone for this one as I'm on the road so I'm not touching the chart drawing tools to update the plan like I normally would . I think it's an idea that shows potential promise and wanted to share with everyone, regardless of my limited current setup .
Good luck ~
艾力克~