Entry: with price above 36.50
Volume: with volume greater than average. Normally I would say greater than the volume from the previous high, in this case 6.032M, but given that volume is from earnings, that is unlikely. The more volume the better.
Target: 39.19 area. This is an area, you might consider existing early if price drops below a significant moving average such as the 10, 20, or 50 EMA. You might also considering holding some portion of the trade longer as price closes above significant moving averages.
Stop: Depending on your risk tolerance; Based on an entry of 36.51, 35.62 gets you 3/1 Reward to Risk Ratio.
For a higher risk and higher reward trade, enter when price breaks above 35.31 (high from Nov 16) and set your stop below the entry day or day before entry day candle, or wherever your normal risk tolerance allows.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Volume: with volume greater than average. Normally I would say greater than the volume from the previous high, in this case 6.032M, but given that volume is from earnings, that is unlikely. The more volume the better.
Target: 39.19 area. This is an area, you might consider existing early if price drops below a significant moving average such as the 10, 20, or 50 EMA. You might also considering holding some portion of the trade longer as price closes above significant moving averages.
Stop: Depending on your risk tolerance; Based on an entry of 36.51, 35.62 gets you 3/1 Reward to Risk Ratio.
For a higher risk and higher reward trade, enter when price breaks above 35.31 (high from Nov 16) and set your stop below the entry day or day before entry day candle, or wherever your normal risk tolerance allows.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Trade closed: target reached
