Notes: * Coming up on the right side of its IPO base * Has been using its 50 day line as a dynamic level of support * Recently broke above an important resistance level around 11.22 with higher than average volume * Has been increasing steadily in price and volume * Printed a pocket pivot with squatting price action (not ideal)
Technicals: Sector: Consumer Cyclical - Apparel Manufacturing Relative Strength vs. Sector: 1.04 Relative Strength vs. SP500: 2.37 U/D Ratio: 3.51 Base Depth: 39.96% Distance from breakout buy point: -9.73% Volume 117.75% above its 15 day avg.
Trade Idea: * I particularly don't like the squatting price action at the moment so I personally wouldn't enter now. * If the price holds above 11.22 and stops squatting I may consider entering * If you want to enter now you can as the price is just above the broken resistance level of 11.22 * If you're looking for a better entry you may just want to wait and see how the price behaves around this level
* I'll post about this again if it makes better progress.
hey , not to risky get to longs now ? indexes still struggle =/ but i really like this chart ...thanks
HaseebKhan_90
⋅
@TORNADOF5, I do consider the indexes but individual (high probability) stocks may still perform... I'm still following my trades and using calculated stops in case if things go south. As long as you understand and know the risk you're taking it should be fine.
but i really like this chart ...thanks