This stock is a great channel to trade at buy support sell resistance for quick pops, when it breaks out can go long on stock or options but right now trade the range for a channel. Use stock or options and stop under the support
Seems like selling at the top of the sidewards channel is a great idea.
Take profit is the bottom of the channel. Risk Reward is 2.05
Stop Loss : 12.06
Take Profit: 10.34
Have a nice day.
The shortterm trend is bullish, the midtermtrend bearish.
Should the stock be able to rise again to the former top at 14.15$ - a H&S would appear. The Minimum of this pattern would be 20.9$, the Maximum 23.8$.
This pattern only is active with Prices > neckline @ 14.15$.
Prices below 9.8 will generate a shortterm selling Signal with TP 8.75$/ 7.5$.
Below that...
After upper trend the trendline is violated and we can see a flag which'd probably give us a good chance to go short, othervise, it'd give a nice opportunity for long.
So,
PLAN A : Bearish breakout. We wait untill the flags bottom line would be violated and then go short.
PLAN B : Bullish breakout. The same as above but vise versa.
We have 2 options for this instrument:
1st: we can buy now.
2nd: we can wait until the flag will be realized.
We choose 1st option and start buying now.
