ASIX trade ideas
ASIX Channel breakoutMay have entered to early, could retrace after touching the top of the channel. Could also be a breakout. Stop loss set.
$ASIX long ideaASIX with a close above the resistance line at $50.5 zone and support at 30day MA , leads me to believe we turn higher after cooling off from the 33-57 leg
Oscillators are turning with good volume and relative strength in a weaker tape market.
In the resin / fertilizer basic materials space, LWLG another name also with a bullish chart IMO.
Keeping this one tight, two closes below the 30 day MA and I'll close my JUN 60 calls, already up 35% and I think there's more room to the upside / good RR on this trade idea IMO.
Cheers
AdvanSix (ASIX) possible longAdvanSix Inc. showed recently a good upside movement. Due to company business and Q/Q statistics they try to do well even with a COVID-19 world backstage. Will be watching this company and their stock movements...
ASIX in a strong upward trend 04-Oct-2017 (Daily)ASIX has been moving upwards since the end of 2016 with Higher-High's and Higher-Low's.
R: 42.50
S2: 39.59
S1: 34.90
ATR: 1.00
N: 2.00
Next action: Watch 42.50
