Trade Idea Long GAIA: Entry: 11.15, Target: 13.50, Stop: 10.52
GAIA has fallen sharply over eight days but found support right on the rising trendline on Friday. Yesterday it formed a bullish Harami just above that support. Volume was a littler higher but nothing special.
It looks oversold at the moment and if it decides to test the resistance of the falling trendline at about $13.50 there is a possible trade here. With an entry if it trades above high from Friday at $11.15 and a stop below the low of Friday at $10.52, when have a risk/return ratio of 3,7, and a possible profit of 21%.
There is resistance at about 12.15 where the stock could decide to take a rest. That would be a ratio of 1.6. If so, this could be an opportunity to move the stop up to break-even.
Entry: 11,15
Stop: 10,52
Target 1: 12,15
Target 2: 13,50
It looks oversold at the moment and if it decides to test the resistance of the falling trendline at about $13.50 there is a possible trade here. With an entry if it trades above high from Friday at $11.15 and a stop below the low of Friday at $10.52, when have a risk/return ratio of 3,7, and a possible profit of 21%.
There is resistance at about 12.15 where the stock could decide to take a rest. That would be a ratio of 1.6. If so, this could be an opportunity to move the stop up to break-even.
Entry: 11,15
Stop: 10,52
Target 1: 12,15
Target 2: 13,50