IngenuityTrading

Reversal setup #stocks

Long
NASDAQ:TCOM   Trip.com Group Limited
Tcom has a great reversal setup unfolding. A buy here with a stop below 31.19 looking for a play back to the range ( rectangle ) high and then hopefully toward 37. Recent absolute rate of change has been choppy but there was strong momentum November into December so hopefully the speed to the upside will continue. There could be great breakout potential here if this initial reversal works out because the stock has done nothing for months

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how about a breakout downwad? thanks in advance for your response!
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IngenuityTrading TheSignalyst
@TheSignalyst, Thanks for the comment... I am only looking for long plays as of now because the overall equity market trend is pointing higher (fxi, spy, etc). I would only look for a breakdown to the downside for any individual stock if the overall equity market was also turning lower. If this (tcom) breaks down I will just get stopped out and re-evaluate.
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