📈 Technical Setup
Current Price: $2.38
Entry Zone: $2.30 - $2.40
Risk Level: Defined
Momentum: Building after strong premarket expansion
Key Observations
✅ Strong opening volume surge
✅ Price holding above breakout area
✅ Higher lows forming after initial spike
✅ Buyers absorbing pullbacks
✅ Premarket range already broken
🎯 Target Levels
Target
Price
Gain From $2.38
TP1
$2.69
+13%
TP2
$3.12
+31%
TP3
$3.54
+49%
Stop Loss
🔴 Hard Stop: $0.68
Trade Management
Scale 25% at TP1
Scale 35% at TP2
Let runners work toward TP3
Move stop to breakeven once TP1 hits
🔥 Bullish Thesis
1️⃣ Volume Confirmation
Volume exploded significantly above average, confirming institutional and momentum trader interest.
2️⃣ Breakout Structure
Price launched from the $1.50 area and established a new trading range above $2.30.
3️⃣ Momentum Compression
Current candles are consolidating near highs rather than selling off aggressively.
Bullish consolidations often lead to continuation moves.
4️⃣ Psychological Levels
Once $2.50 breaks:
Shorts become trapped
FOMO buyers enter
Momentum scanners begin picking up the stock
🐂 Bull Case
If buyers reclaim and hold:
$2.50 ➜ $2.69 ➜ $3.12 ➜ $3.54
Momentum stocks frequently make multi-leg moves after the first consolidation phase.
Trading Plan
✅ Buy strength above $2.40
✅ Add through $2.50 breakout
✅ Take partials at predefined targets
✅ Protect capital aggressively
✅ Let winners run
Shorts trapped above $2.50
Current Price: $2.38
Entry Zone: $2.30 - $2.40
Risk Level: Defined
Momentum: Building after strong premarket expansion
Key Observations
✅ Strong opening volume surge
✅ Price holding above breakout area
✅ Higher lows forming after initial spike
✅ Buyers absorbing pullbacks
✅ Premarket range already broken
🎯 Target Levels
Target
Price
Gain From $2.38
TP1
$2.69
+13%
TP2
$3.12
+31%
TP3
$3.54
+49%
Stop Loss
🔴 Hard Stop: $0.68
Trade Management
Scale 25% at TP1
Scale 35% at TP2
Let runners work toward TP3
Move stop to breakeven once TP1 hits
🔥 Bullish Thesis
1️⃣ Volume Confirmation
Volume exploded significantly above average, confirming institutional and momentum trader interest.
2️⃣ Breakout Structure
Price launched from the $1.50 area and established a new trading range above $2.30.
3️⃣ Momentum Compression
Current candles are consolidating near highs rather than selling off aggressively.
Bullish consolidations often lead to continuation moves.
4️⃣ Psychological Levels
Once $2.50 breaks:
Shorts become trapped
FOMO buyers enter
Momentum scanners begin picking up the stock
🐂 Bull Case
If buyers reclaim and hold:
$2.50 ➜ $2.69 ➜ $3.12 ➜ $3.54
Momentum stocks frequently make multi-leg moves after the first consolidation phase.
Trading Plan
✅ Buy strength above $2.40
✅ Add through $2.50 breakout
✅ Take partials at predefined targets
✅ Protect capital aggressively
✅ Let winners run
Shorts trapped above $2.50
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
