Pattern : Bullish Shark . Chart time interval : 1 hour price: 29.08 should have a daily close above 31.9$ to confirm the uptrend Stop Loss : 26.9$ Risk =2.18$ expected profit : 10$ with first target and 15$ with second target .
Comments
ExcitingTechnology
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Someone also showed me how they "surf" the 21 day Moving Average for GPRO. Add that MA to an 4 hour or daily chart and I think you'll see what they were doing. During a confirmed rally they would buy more shares whenever the stock would touch the 21 day moving average and if a big candle formed downwards they would exit all their positions. Worth checking out.
hussain9
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I am using the MA20 days , 50, and 200 .It is a way to protect money. Thanks for your good advice .
ExcitingTechnology
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Thanks for sharing your analysis. Any ideas on what the catalyst might be to drive the stock to the target price? Holiday spending maybe or do you feel price action will drive the price higher? Cheers.
PS. I think you meant LONG for your trade type on the top (it shows SHORT).
hussain9
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you are welcome . It is one hour interval that's why its short but need a break out the previous resistant .