$SUM has been absolutely destroyed since early 2018 highs of $34 and now trading at $13. You can buy this materials company at 1/3 of the price it was trading at just a few months ago and join the likes of David Tepper and Steve Cohen who own this buying at prices much cheaper. Once the midterms pass we will see infrastructure bills coming to repair our crumbling...
Look for entry on way up. Keep an eye out on this market volatility. During times like this, If you go into profit, manage your trade with a tight stop, preferably on a smaller time frame. Be careful. ---Ideas are not investment advice
SUM is another stock acting constructive. Looks nice on a weekly chart too.
SUM Solid triangle break, big wicks not great but seems to be this names MO
SUM Looks like we are going to get a close above the triangle today. A move to 28.70's should ignite next leg up on this one.
Good consolidation. If this breaks above 27.5, should get nice move to the upside.
Retest gap on earnings today. It is near all time highs so I want it to pull all the way back to the support/resistance level it just broke through. 2R target is today's high. Not sure it's going to pull back this far.
Right at rising wedge trendline support + support from 200dma underneath + MACD curling up. Doji on a downtrend will need a supporting up candle to confirm the reversal. A very good R/R to go long at current prices with a stop below close under 200dma.