Hot topic sector: Space
It is setting up before the SpaceX IPO - a boost for sympathetic or proxy trades.
Long period of consolidation with little chop.
Technical pattern: Cup-and-handle. And a quite nice handle that also appears as a bull flag.
Volume impulse off the handle over the 20 day MA.
Ready to break $50. One of these key psychological levels ($50, $100, $200 ...) that had caught Jesse Livermore's attention in "How to Trade in Stocks".
“Many years ago I began to profit from the simplest type of Pivot Points trades. Frequently I had observed that when a stock sold at 50, 100, 200 and even 300, a fast and straight movement almost invariably occurred after such points were passed.” - Jesse Livermore
Summary: If this isn't a valid bullish setup.... what is?
It is setting up before the SpaceX IPO - a boost for sympathetic or proxy trades.
Long period of consolidation with little chop.
Technical pattern: Cup-and-handle. And a quite nice handle that also appears as a bull flag.
Volume impulse off the handle over the 20 day MA.
Ready to break $50. One of these key psychological levels ($50, $100, $200 ...) that had caught Jesse Livermore's attention in "How to Trade in Stocks".
“Many years ago I began to profit from the simplest type of Pivot Points trades. Frequently I had observed that when a stock sold at 50, 100, 200 and even 300, a fast and straight movement almost invariably occurred after such points were passed.” - Jesse Livermore
Summary: If this isn't a valid bullish setup.... what is?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.