Just thought I would share that ILMN appears to align with Wyckoff Accumulation patterns as it began to form a complex base from June last year. The 200 day moving average is now begining to flatten out with the stock making a few attempts to rise above it since this year.
For those with patience, any dips in the coming days will be an opportunity to accumulate. However momentum traders will prefer to see a break above it's horizontal resistence @ 249 to initiate Longs.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
hello , can i ask you about Shop stock pls ?? i just dont understand why it pump from 39.60 zone when 40milion short interest , when i and most ppls short it ?? :{ late to long it now in your opinion ?? thanks you , im new ,still learning hard way it seems :{
Juliac
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@TORNADOF5, huge short interests are always potential catalyst for the stock to have a large rally caused by BOTH bull's FOMOs and short coverings. Not too late to long SHOP in my opinion (with the stock now above it's now flat 200 day moving average). Could still be volatile though.
TORNADOF5
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@Juliac, so many things to know :{ , where would you use stop ?? but im sure now day many stop hunters as well :{ thank you a lot for help
Juliac
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@TORNADOF5, Depending on your risk tolerance, can start with a stop below $39 (say $38.50) for a start as $39 was the most recent pivot low. However that would mean a nearly 12% loss(from current price) if stopped out. Hence position yr trade size accordingly so that this 12% loss will not be too devastating if wrong.
TORNADOF5
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@Juliac, seems big risk reword to me LoL but thank you
Juliac
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@TORNADOF5, if you want to be safer, go for stock that had recently reported better earnings/outlook. A number of these had gapped up and then sold off (due to weak Feb sentiment). They will likely be a better bet gong forward.
TORNADOF5
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@Juliac, AI stock had crazy gap up and run even with gap fill 30% one day :{ maybe good short soon
@TORNADOF5, Bullish structure on this one.. while still very volatile, it's not going to be easy to short even with reversal triggers unless it's short term.
TORNADOF5
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@Juliac, yes thinking short term or day trade hard to say what structure in play :{
late to long it now in your opinion ??
thanks you , im new ,still learning hard way it seems :{