First things first:
Anything can happen... try to be objective as possible and play by your rules. Be confident.
Now:
It is slightly possible that this just goes up forever( I guess) and probably just as possible to have a dramatic drop. More realistically this stock is very strong and will continue this pattern of brief retracement and consolidation to an uptrend. It could break into a downtrend eventually if the market conditions are right. Regardless, I strongly believe a healthy reversal is likely.
-Generally oversold conditions, and nearing various resistances.
-On the daily chart, the last major drop was about 16%.
-Nearing resistance points and meeting trendlines from previous highs.
-Since the start of this overall rally, downtrends average about 20% loss.
-Uptrends average about 60% gain.
Wait for entry/exit signals if you are more aggressive and wait for confirmation of those signals if you want to be more conservative.
-Possible resistance/ reversal at $44, $47-$49
-Possible timeframe of 7-14 business days
*I'm always learning and open to different perspectives. Trade to your own discretion. *
Anything can happen... try to be objective as possible and play by your rules. Be confident.
Now:
It is slightly possible that this just goes up forever( I guess) and probably just as possible to have a dramatic drop. More realistically this stock is very strong and will continue this pattern of brief retracement and consolidation to an uptrend. It could break into a downtrend eventually if the market conditions are right. Regardless, I strongly believe a healthy reversal is likely.
-Generally oversold conditions, and nearing various resistances.
-On the daily chart, the last major drop was about 16%.
-Nearing resistance points and meeting trendlines from previous highs.
-Since the start of this overall rally, downtrends average about 20% loss.
-Uptrends average about 60% gain.
Wait for entry/exit signals if you are more aggressive and wait for confirmation of those signals if you want to be more conservative.
-Possible resistance/ reversal at $44, $47-$49
-Possible timeframe of 7-14 business days
*I'm always learning and open to different perspectives. Trade to your own discretion. *
Trade active:
$42 PUT 1/22/21
Enter: $4.8
Stop: $4.1
Exit: $6.0 ( or trailing stop if past $6.48/35%)
strict stop! watching for reversal signals and trading volume.
Enter: $4.8
Stop: $4.1
Exit: $6.0 ( or trailing stop if past $6.48/35%)
strict stop! watching for reversal signals and trading volume.
Trade closed: target reached:
EXIT $6.10 +$130
went higher today but I reached my goal and had a successful trade. consistency is key.
went higher today but I reached my goal and had a successful trade. consistency is key.
Target $36-$37 range (possible reverse at fib) low at $33.5
Resistance at $43.5 broken and good buy signals for a long entry.
Target $47-$50 range. watch for strong reversal conditions.
Try to trade by getting the probability of any given result based on the information you have now rather than the past or projected future.