Hi everyone!
This is my first idea of trading on USA stock market.
The idea is for a Long position on UA (Under Amour Inc).
WHY?:
1) We have a big gap to close
2) This looks like a copy of chart from end of may 2016, We`re in second wave down to around 29.20, where I want to get in, with Stop Loss around 28.90, but It will depend on day low.
3) We`re oversold on RSI, and Its start go UP, near to support on RSI 37.26
4) MACD (4;9;3) signal line and price line cross my resistance line. Now resistance will become support, and lines will test it in few days.
5) MACD (12;26;9) signal line and price line going to cross my resistance line. As soon as It will happen, We`re about to open our LONG position.
Will write some more info on that idea later.
This is my first idea of trading on USA stock market.
The idea is for a Long position on UA (Under Amour Inc).
WHY?:
1) We have a big gap to close
2) This looks like a copy of chart from end of may 2016, We`re in second wave down to around 29.20, where I want to get in, with Stop Loss around 28.90, but It will depend on day low.
3) We`re oversold on RSI, and Its start go UP, near to support on RSI 37.26
4) MACD (4;9;3) signal line and price line cross my resistance line. Now resistance will become support, and lines will test it in few days.
5) MACD (12;26;9) signal line and price line going to cross my resistance line. As soon as It will happen, We`re about to open our LONG position.
Will write some more info on that idea later.
Comment:
Open my position LONG 29.68, T/P 32.30; S/L 29.55