ONON
this high-end athletic shoe and clothing maker may be one for your watchlist. See the chart notations for technical details. I like this formation as it works more than 50% of the time. I like how it is above the IPO AVWAP. It has just tested the 50 DMA and may bounce here. The best entry would be over the upper short term downtrend line in the handle part of the formation. A more traditional entry would be as it pushes over the latest high. I like earlier entries with tight stops. I will be looking for an entry if / when it can close decisively over the 50 DMA. I will update this idea if / when I take the trade.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.