Be careful - earnings tomorrow. I suggest you wait for earnings to be out to then confirm or dismiss the below theory. Once out, I would place an entry with a Limit order to confirm the breakout.
5-month uptrend with Support confirmed multiple times over the past 5 months. Ascending Triangle formed within, breaking through consolidation with an opportunity to touch a new resistance at Sep19 all-time high.
- 5-month uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $158.92
Suggested Stop Loss $154.41
Target price $175.43
5-month uptrend with Support confirmed multiple times over the past 5 months. Ascending Triangle formed within, breaking through consolidation with an opportunity to touch a new resistance at Sep19 all-time high.
- 5-month uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $158.92
Suggested Stop Loss $154.41
Target price $175.43
Order cancelled:
As expected, earnings have invalidated the setup.
Dismiss this setup and look for better opportunities. Too much uncertainty at this point.
Dismiss this setup and look for better opportunities. Too much uncertainty at this point.
Trade closed: target reached:
When playing earnings, I prefer to be greedy on the profit-taking.
For personal reasons, I wasn't able to monitor the trade intra-day, and I ended up not taking this shot.
However, if you would have been quick enough to react to the sudden spike (before the drop) you would have reached the 8.7% profit target.
For personal reasons, I wasn't able to monitor the trade intra-day, and I ended up not taking this shot.
However, if you would have been quick enough to react to the sudden spike (before the drop) you would have reached the 8.7% profit target.