I see a BREAKOUT profile with TELL at current prices at or near $7.42.
FIRST attempt to break out from under downtrend line since DEC 2018 from $11.80
Previous price thrust from Dec 2018 lows moved from $5.90 to $11.80 =100% gains
Second price thrust from Aug 2019 lows moved from $5.12 to $9.27 = 80% gains
Current price thrust from Dec 2019 lows of $6.60 to $9.27 = 40% gains
BUY at and below $7.46 breakout and pivot point SL at $7.02 = 4/1 risk reward.
$8.18 resistance level
$9.27 prior high from last thrust
Starting positions just below break out price toward resistance levels = 12% and 25% above.
Will watch to see how both the breakout attempt and potential upthrust up trend forms this month.
Happy hunting in 2020.
Trade to win...Trend is your friend....Manage the risk...find your success.
DR.RAV
FIRST attempt to break out from under downtrend line since DEC 2018 from $11.80
Previous price thrust from Dec 2018 lows moved from $5.90 to $11.80 =100% gains
Second price thrust from Aug 2019 lows moved from $5.12 to $9.27 = 80% gains
Current price thrust from Dec 2019 lows of $6.60 to $9.27 = 40% gains
BUY at and below $7.46 breakout and pivot point SL at $7.02 = 4/1 risk reward.
$8.18 resistance level
$9.27 prior high from last thrust
Starting positions just below break out price toward resistance levels = 12% and 25% above.
Will watch to see how both the breakout attempt and potential upthrust up trend forms this month.
Happy hunting in 2020.
Trade to win...Trend is your friend....Manage the risk...find your success.
DR.RAV
Trade closed: stop reached:
TELL was on the radar for confirmation of breaking from under downtrend line with formation of uptrend line during last week of year.... no breakout occurred and price dropped down to find support areas past risk area therefore trade was closed using stop loss alert. Oscillators have turned over since the initial watch for a breakout, which was another indicator of a premature set up condition. While the risk is worth taking for this type of profile the trade itself was not ready with out the proof of breakout in price which would have been 7.47. Only one starting position bullet was loss therefore discipline is working. Always next time and this could reposition into a new candidate in the coming weeks/months ahead. Remain on watch list.
Trade active:
TELL Trade2 re-entered the buy zone for a starting position on 1/15.
This time price only needed to cross over 7.22 to activate my breakout trade profile.
Price closed at 7.66 and was then followed by a confirmation day on the 16th regaining uptrend line established on first trade. Closed out the week above the uptrend line with clear first breakout attempt now made. Original target of 9.27 remains active.
This time price only needed to cross over 7.22 to activate my breakout trade profile.
Price closed at 7.66 and was then followed by a confirmation day on the 16th regaining uptrend line established on first trade. Closed out the week above the uptrend line with clear first breakout attempt now made. Original target of 9.27 remains active.