Hello Traders,
This looks like a potential push into a stage 2 uptrend . I took this long based on validation of volume/price action and the move above range resistance.
It is quite early to be getting long tbh. For one , The 200 ma is still not angled up and the 50 ma is still below the 200 MA. But, it does look like WRAP is setting up for a potential golden cross soon and the price action is supportive .
If you are interested in longing but have not yet entered I would suggest considering waiting for either a successful retest of a significant support or for a base to form from which you can wait for a break up to buy. I don't think this current price is a good entry from a risk viewpoint though ( my entry was on the 26th ) . It is of course always possible for the move to fail and we fall back in to that range too, good so far though .
This looks like a potential push into a stage 2 uptrend . I took this long based on validation of volume/price action and the move above range resistance.
It is quite early to be getting long tbh. For one , The 200 ma is still not angled up and the 50 ma is still below the 200 MA. But, it does look like WRAP is setting up for a potential golden cross soon and the price action is supportive .
If you are interested in longing but have not yet entered I would suggest considering waiting for either a successful retest of a significant support or for a base to form from which you can wait for a break up to buy. I don't think this current price is a good entry from a risk viewpoint though ( my entry was on the 26th ) . It is of course always possible for the move to fail and we fall back in to that range too, good so far though .
Comment:
Sold half today at $8.56 , stop same as before .
Trade closed: stop reached:
was stopped out of remainder of this yesterday , very positive new developments in terms of news and I like their website changes , we might be forming a base here before a new move up ,selling volume mostly has been below average too , ill be watching .
艾力克~