Back watching FUTU for a pre earnings run. I like the way it has been tightening up below 160. A break above 159 could yield a move 162 quickly. A break above 162 could then make a bigger run to 180/182. Be careful with this one. It has massive range. If price were to break below 139 it could end up back below 120 very quickly.
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Heres an update to the chart. My fib setting were off a bit. Same play applies but price sits right at the 618. A break above is bullish.
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Got the break and move to 162. Targeting 170/175 now. Manage risk.
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Taking some more off coming into 170.
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Last bit off at 175. Will revisit for ATH run.
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Noticing a lot of people on Fintwit complaining they got burnt on this last night. Hope none of my followers got hurt. Tough play as many times this sort of run up has a least one follow through day.. The only way to limit this risk is by taking profits on the way up so you have something to cover overnight risk.