Strong long-term trend.
Careful of the potential for a head and shoulders. Use SL now, but if price rises above $51 can use the ATR Stop indicator as a trailing stop (exit on close below). If using ATR Stop, target is not required.
Seen this same pattern a couple times before.
The idea was created several weeks ago, but its realization is possible only today. By the way, an interesting moment. Then the buy area was indicated and since the stock did not reach it, the position was not opened. Otherwise, it stopped out me. Now the signal has worked on the fact
LITE is retesting and getting support at 44.70 (this classic pivot from a double bottom base).
It can either be bought right here off support for a quick trade (with a tight stop in case it fails) OR you can wait for it to climb above short term resistance at 48.31 for confirmation.
What I think about this chart:
LITE broke out of a flawed double bottom. Its...
