andrew.berg

NetSuite tight triangle is ready to resolve

NYSE:N   NETSUITE INC
Fundamentals:
NetSuite Inc             . provides cloud-based financials/enterprise resource             planning (ERP) and omnichannel commerce software suites in the United States and internationally. Its business management application suite includes NetSuite             , a platform for financials/ERP, customer relationship management ( CRM             ), professional services automation ( PSA             ), and e-commerce capabilities that automates processes across departments.

Technicals:
The price was in "accelerating down" mode, which bottomed on February this year. And now, we have V-bottom with an upper level consolidation. A tight triangle with the price sitting on ots 8/21 EMAs, that are intact since beginning of March.

Trade and Risk Management:
There can be an early Entry on break at $78.50 with Add on break of $80. Stop below trend line at $76. And target is $88.50 wich makes this trade worth from Risk/Reward perspective (1:2)
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