@carsonusa5 ok… so the first thing that I see is that it has a nice, twice tested support and it looks like it bounced just a little bit above it… so three times tested support. So if you were to add that would be a great place. 3.00 or just a little bit above.
As long as it holds above 3.00 I can see this going up towards the next resistance level, which is at 4.70… It can go higher, but I would expect some resistance there.
That also seems to be supported by the 180 MA, but this is a new stock and there isn’t too much of an MA to work with, but still… that is a moving support that you might want to reference.
If for some crazy reason the market goes south (which I’m not anticipating, it’s just me always being cautious). Then the next support level is down at 1.75. I’m a big fan of doubling positions (if possible) at support levels. That would be the place to double, for sure.
There is not a whole lot of support in between there, but if you need, I can add a few fib retracement levels if you want. I don’t feel like that’s necessary because of the strong support at 3.00
MacD and RSI look like they support an upward movement.
I have another indicator that I use that shows a buy signal today. It’s one I use a lot.
Over all it’s a nice chart… keep an eye out on the 3.00 level… if it stays above that then it should swing upwards. This is a nice chart. It has a lot going for it.
If you have some time I have another one for you. 😂 ACOR
SPYder_QQQueen_Trading
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@carsonusa5, I posted it and tagged you in it. ☺️. Hope it's helpful...
carsonusa5
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Thank you!!
SPYder_QQQueen_Trading
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@carsonusa5, My pleasure. As long as I have charts left in the day I'll analyze whatever you want, LOL. I can only publish 10 a day and sometimes I have them left over, and sometimes not. Weekends I have a BUNCH of charts, haha. GL ☺️
carsonusa5
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Good to know, don’t worry I won’t bombard you 😂 I watched your video and I LOVE the way that you trade so I am doing my best to do it the way that you taught in the video and then every now and then I’ll ask you for an analysis to check if I did it right or not on my own. Thank you!
SPYder_QQQueen_Trading
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@carsonusa5, haha... that's ok, you can bombard me, but I can only respond as time permits. My goal is to, ultimately, have you be able to see it... but until you do feel free to ask questions. I didn't realize that I could do video tutorials right on TradingView so I'm thinking about maybe doing a few of them soon... I have a fun new strategy to really nail entries even better, and another one for finding support... and maybe I'll do a few analysis' live... we shall see... have a really nice night. 🌙
kkaybee
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Market went south.. guess next support is 1.75... free fall until then...
carsonusa5
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@kkaybee, definitely did but More than doubled my position at @2.55 and loving it
SPYder_QQQueen_Trading
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@carsonusa5, Fantastic!!! Nice move!! The Daily Chart looks very bullish, with the smaller timeframes looking a little rough so don't be jarred by a little pull back... Support is still right around where you added!!! Great job!!! & GL!!