it might be tempting to buy within VCP ... but is it still so when you look at what happened to VGR? Once you have been caught in a move like that ... you learn very fast :) ALWAYS apply risk management where size of your position is in line with your risk apetite! Happy trading!
the left hand side looks a bit choppy but you can see a nice price contraction together with volume lower than average. In good market conditions - this would be a good candidate for long entry provided it would clear the 17.40 level.
Contextual immersion trading strategy idea. Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. The demand for shares of the company still looks lower than the supply. This and other conditions can cause a fall in the share price in the next days. So I opened a short position from $10,52; stop-loss —...
Price action clearly pushed above the previous resistance at 11. Indication of reversal of the down trend over the past few months. Plenty of room to rise.
Next support level is at $13.15. If that support fails, look for a long-term price around $8.50 ($8-$9). RSI is currently oversold, which may lend to a bounce off of the 13.15 support.