CZOO moves up on the pre-earnings interest LONG
CZOO shown on a reliable daily chart had an earnings report beating the estimates back in
November whereprice action trended up then down in January followed by sideway action
then finally a break out through VWAP band lines and the entirety of the high volume area of
the profile. Ahead above is a volume void where price moved quickly coming down..
On the retrace, price can move through the void just as easily.
The indicators show the volume pump and corresponding Price Volume Trend going exponential
My first target is 23 about 90% upside - it is the line between the lows of the bottom wicks of
Doji candles on 11/17 and 12/18/23. The stop loss is 12.6 just below the upper
boundary of the high volume area. Once the price gets over 17, the stop loss will be
converted to a trailing $2.00 stop loss and the risk free trade will continue higher.
At the first target 50% will be realized and at the second another 25% while the remaining will
be left to see if any momentum remains. The final target is 43 being the high pivots of early
December 23 and the consolidation high volume area of October 23. the rest will look for the
momentum fade while the stop loss is changed to trailing $1.00.
This is potentially a 3-4X profit trade using alerts / notifications/ limits and stops.
There will be very little screen time or effort in the management.
November whereprice action trended up then down in January followed by sideway action
then finally a break out through VWAP band lines and the entirety of the high volume area of
the profile. Ahead above is a volume void where price moved quickly coming down..
On the retrace, price can move through the void just as easily.
The indicators show the volume pump and corresponding Price Volume Trend going exponential
My first target is 23 about 90% upside - it is the line between the lows of the bottom wicks of
Doji candles on 11/17 and 12/18/23. The stop loss is 12.6 just below the upper
boundary of the high volume area. Once the price gets over 17, the stop loss will be
converted to a trailing $2.00 stop loss and the risk free trade will continue higher.
At the first target 50% will be realized and at the second another 25% while the remaining will
be left to see if any momentum remains. The final target is 43 being the high pivots of early
December 23 and the consolidation high volume area of October 23. the rest will look for the
momentum fade while the stop loss is changed to trailing $1.00.
This is potentially a 3-4X profit trade using alerts / notifications/ limits and stops.
There will be very little screen time or effort in the management.
Comment:
full position with no partial profits taken yet.