An idea for a long trade on VNET, Showing signs of consolidation and possible uptrend on the 3 Month chart. Wait for a break above the consolidation resistance line, confirmation of uptrend leads to an entry on the second low, placing stop loss at the last low or below the support created by old resistance. Follow uptrend with a trailing stop loss to maximize ...
Looking at chart of VNET today. Looks like a breakout:
1) MACD fast line crosses over slow line.
2) MACD crossover occurs above 0.
3) New 52-week high
4) Increased volume on breakout.
I took a long position on VNET today. (Just a smallish position).
In at $10.60 (just above the high on July 3, and above the previous day's high). My stop-loss is slightly ...