Part 2 of $CTSH - except this week I'm long. You can check out original idea here -
Selloff to the $74.85 range was predictable before seeing an upside. Despite the significance in the drop, the setup pointing towards a heavy move back upwards to the $80 (& eventually around $81.50) range looks almost like a textbook correction (for now, at least). Most ideal entry to go long is about $76.90 (wouldn't expect any large moves up until then). Rectangle boxes surrounding both yellow & green EMA should act as a priority indicator. In any case, they'll bounce off lower EMA (soon after price gets to high $76 range) - if true, then this is considerably, an A+ setup.
Selloff to the $74.85 range was predictable before seeing an upside. Despite the significance in the drop, the setup pointing towards a heavy move back upwards to the $80 (& eventually around $81.50) range looks almost like a textbook correction (for now, at least). Most ideal entry to go long is about $76.90 (wouldn't expect any large moves up until then). Rectangle boxes surrounding both yellow & green EMA should act as a priority indicator. In any case, they'll bounce off lower EMA (soon after price gets to high $76 range) - if true, then this is considerably, an A+ setup.
Comment:
Almost expecting a gap up toward that $77.50 mark. Expect to see some consolidation (before breakout) when the yellow EMA forms a pocket w/ an upward angle pointing to light blue EMA.
Trade closed: stop reached:
asdfghhjkl. Ugly. $73.28 & $72.18 next levels of support. Wouldn't count this one out yet, but definitely wouldn't be too quick to jump in
Comment:
Ahhhhhhh yeah definitely a nice fake out. How the games play themselves out though. Lining up suuuppppaaa nice now