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Daniel.B
Dec 28, 2023 8:37 PM

Breakout w/ tightening Long

Uber Technologies, Inc.NYSE

Description

Fits the criteria of what I'm aiming for so I went long today after missing the breakout yesterday. Stock in an uptrend... i.e. 10 / 20 / 50 ema's are all sloping upwards, declining price volatility after a large move (price tightening) along with declining volume while consolidating after a big move.

One concerning note is the low trading volume during the breakout. We'll see how it plays out.

  • Entry: 63.32
  • Stop: 60.51

Trade closed: stop reached

Comments
lapoochi
IMO that huge daily volume candle on DEC 15th marked a temporary top. For me whenever I see a volume candle that much above it's average volume it's a signal for a reversal play as that usually signifies the final capitulation move.
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