Hi folks! Here is my idea for how I see the chart and what I am going to do about it. See annotations on my chart.
Thank you for viewing, happy trading!
OnePath
Comment:
I completely forgot to un-hide an important annotation that describes more detail of my idea.-
I will take a trade only when my alert indicates "GLB" at $5.42. There is way less downside potential once it reaches that level, maintaining a 5% Stop is technically reasonable. I'll look to take profit accordingly around $7.50.
If I took a trade now, there's still a technical bear case for $3.19-$2.40, it stays in the range and patterns out into another opportunity, but it would take too long for my style. I want to get in at the right moment,
like $5.42, cash out 35-40%, and wait to re-enter with smaller size once price starts to compress.
Importantly, anticipated rate cuts will give way to higher valuation giving the business model. That also means the company might consider to raise capital by offering shares if price, valuation and rate make sense.
Comment:
It may very well go down, but there is a trade opportunity here. Managing risk is key, preserving your capital for the next one.
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I will take a trade only when my alert indicates "GLB" at $5.42. There is way less downside potential once it reaches that level, maintaining a 5% Stop is technically reasonable. I'll look to take profit accordingly around $7.50.
If I took a trade now, there's still a technical bear case for $3.19-$2.40, it stays in the range and patterns out into another opportunity, but it would take too long for my style. I want to get in at the right moment,
like $5.42, cash out 35-40%, and wait to re-enter with smaller size once price starts to compress.
Importantly, anticipated rate cuts will give way to higher valuation giving the business model. That also means the company might consider to raise capital by offering shares if price, valuation and rate make sense.