FCEL 1/5/2022 Short

FuelCell Energy, Inc.NASDAQ

Description

⋅ Jan 5, 2022 11:39 PM

After a downtrend, price entered a distribution phase. Price broke down from support and pulled back in form of a bear flag. The bear flag has now also been broken.
There is also a Death cross indicating bear market conditions.

Entry: Pullback to 50ema or bottom of bear flag.
Stoploss: 6.05
Target: 3.25

Trade active

⋅ Jan 8, 2022 1:20 AM

Entered at 5.30

Comment

⋅ Jan 21, 2022 8:47 PM

Updating Target:

Target: Trailing 10ema or 3.25

Trade closed: target reached

⋅ Jan 31, 2022 10:40 PM

Exit: 4.24 - +20%, 1.41 RR ration

Comments

HHSPN

⋅ Jan 21, 2022 9:06 PM

Is the yellow line at 3 a fib level?

rudcharts

⋅ Jan 21, 2022 9:13 PM

@HHSPN, no, that's just a previous resistance level

HHSPN

⋅ Jan 21, 2022 10:19 PM

@rudcharts, I see, so it can act like a support on way down.

rudcharts

⋅ Jan 21, 2022 10:53 PM

@HHSPN, it could. At that level I would analyze the candle sticks and look for some sort of reversal signal.

HHSPN

⋅ Jan 10, 2022 11:44 PM

Good call!!