Entered this trade on Jan 19 21. Trading an vertical debit spread to reduce the break-even price.
Entry: Waited for breakout triangle.
Exit: Target is ATH, but if the price runs up I will keep position open until 75-100% of profit target.
If trade goes south, I will exit with a loss of 50% of premium paid.
- AZN moving in an upward channel
- Price has breached channel, but looks to be falling towards the median
- Current price trend in a falling wedge pattern, which will likely result in a breakout
Recent news (1/23/21):
- Failure to deliver COVID-19 Vaccinations target number of doses
2-3.45 coincide with strong weekly resistance levels. Entry in this range is risky.
If price sustains breakout at 3.45, then price targets 6.25, 8.23, 10.35 are valid.
These targets coincide with volume pocket.
ARKK has been solid and will continue to provide excellent returns. Price has been climbing channel and is currently around the median.
Seems like a H&S pattern is forming on low and high time-frames, thus a potential move down can occur.
I have set buy levels down to $110
CRM will continue to fall as far down as $200. Looking for a trend reversal and breakout once price reaches this level.
Safest entry would be a weekly close above $244, which would show price has returned to a bullish uptrend.
Market is very bullish and $400 is possible if price breakout of current channel or we have a 5-6% correction and continue up-trend to $400 throughout 2021.
Volatility is very low, so expect a big move (maybe sometime in Jan?).