Li found support on the 21-ema and on the third consecutive time of asking it finally broke above of the $33 resistance. As you can see from past price action, the $33-$34 zone has been a strong resistance level for quite sometime now. Stochastic and MACD look healthy and curling up and I believe LI is poised to go higher but I took some profits at this level. If it retraces to the 21-ema I will add more shares with a tight stop loss.
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Trade closed manually:
Closed position at $32
Trade active:
Re-entered with a few shares at around $31.66 after the sell off
Trade closed manually:
Closed this morning after the bounce for 33.05 a piece. perhaps a little premature but profit is profit and it is in my pocket now. If Li closes above the $33-$34 range I will consider jumping back in with a stop loss in that zone.
