Entry: with price above 316.24
Volume: with volume greater than 30M
Target: 333.91 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 316.25, 307.40 gets you 2/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Volume: with volume greater than 30M
Target: 333.91 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 316.25, 307.40 gets you 2/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Comment:
A learning opportunity - if you took this trade yesterday based on price alone - you paid for it today. Volume is a key ingredient for most successful trades. If there aren't enough buyers, there isn't anything to drive the price higher. Volume on July 13 was 30M, if you took the trade yesterday with volume at 21.7M, you did it on blind faith. Of course most stocks crashed today so maybe it was inevitable, but without the volume, even with a good day in the market, this stock didn't have enough buyers right now to drive price higher.
Order cancelled
