We expect further downside on this pair, signalled by the formation of an expanding triangle pattern breakout. We can also see the breakout, close and retest of the price below the key level on lower time frames, further supporting our directional basis. The trend has changed from bullish to bearish.
1. Trend - Turned bullish with this week breakout
2. Breakout - Strong
3. Strength - Very strong with 37% move in a week
4. Entry is volatile, if price come for a retest.
5. Keep in radar if on daily a fresh breakout comes, after a range formation of 7 days to 10 days minimum.
Wayfair is the kind of stock you can make a lot of money on by catching the early move. It has household name recognition, trends well, follows the traditional growth stock stages, and is both large enough to attract institutional investors while still being small enough to deliver triple-digit gains. In 2020, for example, shares surged 1,500% in just over five...
Stop loss 122
Breakout trading implementation:
1. **Identifying New Trends:** Breakout trading helps traders identify the beginning of new trends by focusing on price levels where an asset breaks out of its historical trading range.
2. **Volatility Indicator:** Breakouts often occur when there's increased volatility in the market. Monitoring breakouts...
Stock have strength and good fundamentals
Qtr sales up by 2%
Qtr net profit up 168%
Qtr EPS up by 167 %
stop loss ------728
Breakout trading implementation:
1. **Identifying New Trends:** Breakout trading helps traders identify the beginning of new trends by focusing on price levels where an asset breaks out of its historical trading...
Another Breakout stock that came on my radar is Sapphire Foods India Ltd
This stock has been consolidating in a range since its listing.
The consolidation is happening in an ascending triangle.
Currently, the stock is trading near the resistance in a small range of approx 12 % from the past 9 weeks, suggesting there's is a high chance of a breakout this...
HP ADHESIVES is a stock that can be another great positional pick considering the great risk-reward ratio it is offering right now.
The reason I picked this stock is that, it has been consolidating for the past 8 weeks in a tight range of approx 8-10%.
And this consolidation is happening at previous resistance around 410-460 levels, where the stock took...
Shopify needs no introduction. If you bought something online from anywhere other than Amazon, the sale probably ran through Shopify.
The stock is up 175% since October and proving to be a market leader.
The recent action shows shallowing retracements on declining volume – a textbook breakout pattern or "VCP Pattern" as described by Mark Minervini
JFrog is a supply chain software company out of California.
This mid-cap stock formed a base over the last twelve months and is now trying to break out on above average volume.
The run up from $17 to $28 took place on good volume, so this looks like accumulation on the institutional side.
I think this is buyable here. A couple weeks of tight price action near...
Hello traders! 🌟📊 I want to bring your attention to an interesting technical pattern I've spotted on $LCID. It appears to be forming a wedge pattern, suggesting a potential breakout opportunity. Let's take a closer look at the details! 💡📉📈
🔍 Symbol: NASDAQ:LCID
📅 Timeframe: Weekly
📌 Wedge Formation:
NASDAQ:LCID has been consolidating within a narrowing...