Today I want to share with YNDX idea.
This is short to mid-term long trade.
Basically, we have the following signals promissing us a profitable trade:
1) The stock is oversold
2) The stock has reached major
3) A possible distribtion on extremely high also took place
4) A reversal pattern on the last bar
5) Finally, fundamentally Yandex is also not so bad
So, we can use 2 entry points:
the first one is a last day bar High 27.82 (27.81 + 1 tick).
We can also enter the market after the crossover of the local resistance line.
Well, it's pretty obvious that the first entry point is a more risky, but we can afford a larger position considering we place stop-loss much closer to the entry point. On the other hand, if the price will break through the then we will have better chances for the further ascent.
Stop-loss should be palced somewhere around the or yesterday bar Low 26.46 (26.47 - 1 tick)
Thanks for your attention and good luck!