DTEA hit a high of 7.45 before plunging to hit a low of 4.62 today (a 38% drop!). However, the worst appears to be over now as it closed the gap @ 4.83 and now began to form a bullish pin bar.
The uptrend appears to be still intact despite retracing about 50% of the move that began at the start of this year.
I went long @ 5.00 with an initial stop loss just below today's pin bar candle's low @ 4.62, with a view to scale out partially at 7.45 (recent high) and then at 8.95. Let's see if it works out!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
@benjohmin, no, I cut stop out pretty soon for this one. :(. It hit into a horizontal support at 3.22 recently. However, I am not keen to re -stake as the momentum seem weak.