As long as BLINK can stay within the channel it should be fine. If it breaks below we may very well re-test some of those moving averages. RSI is in overbought zone but it could be there for a few weeks. Given its recent price action I would be more prone to think BLINK will revisit the top of the channel than break below it. You could buy now with a tight stop loss below the channel. There is very little risk in this type of trade because you would exit it right away with minimal loss. If BLINK enters the channel again with some volume you can always buy back in.
This is the daily chart for a more detailed view:
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
This is the daily chart for a more detailed view:
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Comment:
Price is up in reaction to the trendline support:
Comment:
Good bounce back from the trendline. Finding resistance at $46.47. i already sold my shares that I had bought at the trendline support:
