Haosukuno_No_Haki

10% CAPITAL GAIN SCALP ON PENNY STOCK (GENOMIC VISION)

Long
EURONEXT:GV   GENOMIC VISION
- Here is my trade initiated yesterday shortly after the opening of the Paris market (Wednesday, July 1st at 9:30am) -
- Scalping on Genomic Vision (small cap), a French biotech -
- 30min analysis -
- Long position with a high probability of success -

Position taken at the break of the RSI 14 Neutral zone by a clear upward divergence in the RSI 14, reflecting a clear weakening in the stock's bearish trend , which had been underway for around one business week.

Position strengthened and tracked by the Fibonacci retracements. I started the expansion of these retracements at the break of the white support zone of the uptrend between 18/06/20 and 24/06/20 and extended them to the lowest of previous sessions.

These Fibonacci retracements allowed me in this case to track the share price during the uptrend I expected. The strong breaks in the Fibonacci retracements at 38.20% + 50% then again at 50% + 61.80% are indicative of a powerful buying push. As a result, we could expect the price to reach the 100% Fibonacci retracement . Exit point validated by the spring which reflects a strong indecision between buyers and sellers, it is the end of the rise.

Therefore, I closed all my positions at the 100% Fibo retracement level with approximately a 10% capital gain.

HnH.