Setup Analysis on AMPS
Here we she a massive cup and handle on the 1hr Chart. Notice below volume increasing throughout the formation. Price has bounced off support at $6.03 and moved to $6.21, looks like its prime to go higher.
Earning Announcement 8/14 in Pre-Market which will add a lot of risk to this trade.
Current Position - 11/17 - $7.5 strike - Call -...
AMPS
- Entry: 10.48 - 10.54
-EMA21 cross below EMA 50
-Price breached support level 1
-Price below Daily SMA 200
-Target: $8.30
-R/R- 1.5
-Radar Watch: Price crossed & closed below SMA 200 on the Daily chart . Watch for forming candlestick patterns.
Possible pullback or continue down, watch for price to fall to the most recent support level.
AMPS is coming out of a textbook cup with handle pattern, triggering a buy here.
AMPS is somewhat of an under-the-radar solar stock. Unlike most solar companies which make panels, chips, or mounting systems for customer-owned solar energy systems, Altus is an electric utility company whose power comes exclusively from solar generation.
I actually prefer the...
Bullish
- Higher lows / Higher highs
- IHS formation
- Funds accumulating
- Great fundamentals
- Hot theme
Entry idea
- For members
Stop loss depending on entry and risk appetite. But always set meaningful stops.
“A winner is just a loser who tried one more time.”
Cheers and happy trading!
Here's another stock that could have some future back to its ipo price... making more money now than before and that's all that matters imo. just an idea im not to fond of these newer ipos.
