VIRT - Possible flag or breakout Momentum trade from $18.57
VIRT seems breaking out its long term resistance forming a flag formation. On the weekly frame it seems breaking out of a downward channel. It has strong insider buying, Strong Moneyflow on weekly chart and above all moving averages supporting this Long trade.
* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Flag formation, Breakout of Long-term resistance.
Entry Target Criteria- Break of $18.57
Exit Target Criteria- Momentum trade
Stop Loss Criteria- $16.87
(Note: Trade update is delayed here.)
* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Flag formation, Breakout of Long-term resistance.
Entry Target Criteria- Break of $18.57
Exit Target Criteria- Momentum trade
Stop Loss Criteria- $16.87
(Note: Trade update is delayed here.)
Comment:
January 27th- Flag did not breakout yet, and did not hit entry criteria. Waiting for Flag breakout.
Comment:
February 8th- Showing some upward momentum, and made a higher high today. Looking good as long. Updating stoploss to $17.57
February 3rd- Went up & hit entry price today. Wait & see for now.
February 2nd- Seems the flag is broken out with Nice 3.66% upward move, but yet to hit entry. Reporting earnings after market today, watching it closely.
February 3rd- Went up & hit entry price today. Wait & see for now.
February 2nd- Seems the flag is broken out with Nice 3.66% upward move, but yet to hit entry. Reporting earnings after market today, watching it closely.
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