Ever since that crazy drop MRSN has been rangebound. As you can see, the channel can be split into two smaller channels. This is the ideal scenario to buy the bottom and sell the top. The Stochastic RSI is your best friend in this type of setup. If you are more conservative, wait for the candle to touch support and look for a bullish crossover on the RSI. That is your "buy" signal. However, as you can see from the vertical lines, every time the Stoch RSI crossed bullish the price went up, even if the candle was not touching support. The price move was smaller in those cases so you would have a little less profit. Any of these strategies would be lucrative here. Your risk is minimal because you can exit if the channel is broken to the downside.
Safe trades!
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***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.***
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Getting there:
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Get ready to pull the trigger!
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Now!
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Keep an eye on those moving averages. They may offer some resistance.
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If the Stoch RSI hits that first resistance level and the candles are not above the moving averages I will close part of my position.
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Just one more EMA and we will be very close to the first target!
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And we are above the 21-ema:
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Sold my shares here. Waiting for another entry:
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Looks like people want to keep trading the channel lol: