The price level around $8.30 seems to be a new support on the 1H daily and 30m daily charts. I'm looking at a bounce of this area and rally up to the most recent high of $9.57.
I'm looking to enter this swing trade at $8.40 with a target price of $9.50 (14.5% profit). The stop loss is set at $7.50. Total shares will be 100 and a risk:reward ratio of 1.5. Total at risk is $81 with a target profit of $120.
I'm looking to enter this swing trade at $8.40 with a target price of $9.50 (14.5% profit). The stop loss is set at $7.50. Total shares will be 100 and a risk:reward ratio of 1.5. Total at risk is $81 with a target profit of $120.
Comment:
Looks like a bearish candlestick has formed. Looking for a pullback to support around $7 now.