Logitech- Buying Long Into Start Of New Uptrend
Friends
We've had a downtrend stall, a bullish engulf, confirm bullish Harami and gap up has shown the bulls intension to being this stock back up to higher highs.
It made a lot of sense to buy yesterday, as the breakout was clearly there, and we was able to get a good price for sure.
My personal Pre market predicted opening price is 13.70's. And with this in mind, we are hoping to see bulls keep price about the 200EMA.
We had a previous scenario of gapping up from a reversal, and the up move was quick, and profitable. Pre market behaviour, the gap ups and buying activity, I think the scenario 1, which I have labelled on the chart, could be a realistic scenario for this time around also. But obviously I haven't bought it under that assumption. But the target is not unrealistic for potential upside targets but we shall see.
Thanks,
Tom
We've had a downtrend stall, a bullish engulf, confirm bullish Harami and gap up has shown the bulls intension to being this stock back up to higher highs.
It made a lot of sense to buy yesterday, as the breakout was clearly there, and we was able to get a good price for sure.
My personal Pre market predicted opening price is 13.70's. And with this in mind, we are hoping to see bulls keep price about the 200EMA.
We had a previous scenario of gapping up from a reversal, and the up move was quick, and profitable. Pre market behaviour, the gap ups and buying activity, I think the scenario 1, which I have labelled on the chart, could be a realistic scenario for this time around also. But obviously I haven't bought it under that assumption. But the target is not unrealistic for potential upside targets but we shall see.
Thanks,
Tom