Brand new IPO stock EURONEXT:ADYEN is forming a pennant. It can go either way from this point so do only trade it after a breakout. I'm not planning to trade Adyen in the near term because there are big risks involved:
Newly listed stocks can do wild things, so use a tight stop loss.
The free float of this stock is very low. All shares are allocated to...
- Clear head and shoulders
- High vertical distance
- Nice volume contractions
- Volatile stock
- Average short interest (1.77%)
- Rather close stop
- Right shoulder is slightly higher
- No clear longterm trend
As you can see my suggested trade setup gives a risk reward of 2:1. If the stock behaves nice and breaks down, i think this is worth a...