optionsswing

$UPST Bull Flag Breakout

Long
NASDAQ:UPST   Upstart Holdings, Inc
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17
-UPST has been consolidating since its massive power earnings gap and go. This inside consolidation has allowed for accumulation of liquidity.

-First sign of a bull flag breakout with MacD crossing over bullish .

-Levels to watch are 119 which is good for long entry with targets of 140, 160 and above ATH .

-Trade invalidated if a daily close under 113.

-Daniel Betancourt, OptionsSwing Analyst
Trade active: Amazing push by bulls on UPST. 20% move in two days from our entry. Took all risk off our long contracts as we are now riding this trade for free.
Trade closed: target reached: Amazing Trade. Directly to target with no pullbacks on the daily. NOW that is momentum.

Comments

why would the trade be invalid if it closed under 113 specifically?
Reply
blakewhite cwillis3
@cwillis3, I LIKE THIS QUESTION
Reply
@cwillis3, a close under 113 would have presented a false breakout from that bull flag.
+1 Reply