MEAT Long at 1.74 - 3-1 Pnl Target (30%up/10%down) Target = 2.30
Technicals
- RSI on 1 4 and daily have bottomed out or are diverging from a long down trend
- broke out of a long daily downtrend
- broke out of a shorter daily downtrend (apr 23 - may 19)
- CM Williams Fix on 1hr shows Buy signal (feb 23 - apr 2)
- VERY strong support around 1.74 (1hr, 4hr, Daily charts)
- Volume has been declining on the down trend for the past week - indicates down trend is losing momentum
Target
- $2.30 range
- 3-1 profit loss target (30%/10%)
Timeframes
- Looking for a 2-3 week trade
- any longer and signals won't apply to current trade
- RSI on 1 4 and daily have bottomed out or are diverging from a long down trend
- broke out of a long daily downtrend
- broke out of a shorter daily downtrend (apr 23 - may 19)
- CM Williams Fix on 1hr shows Buy signal (feb 23 - apr 2)
- VERY strong support around 1.74 (1hr, 4hr, Daily charts)
- Volume has been declining on the down trend for the past week - indicates down trend is losing momentum
Target
- $2.30 range
- 3-1 profit loss target (30%/10%)
Timeframes
- Looking for a 2-3 week trade
- any longer and signals won't apply to current trade
Comment:
I wouldn't usually buy on a 'down' day, but considering the price hit my target buy price and all my indicators lined up - I decided to chance it and wait until tomorrow or the day after to see if it pops up.