We are seeing an uptrend of this stock and it could be heading to a higher level of support around the price of $11.44. The previous support was at $10.00. Setting the risk/reward with a 5% risk, we can see a 5% drop from the entry price of $11.44 to be at $10.87, which is a month ago. The Stoch RSI is showing the stock to be quite oversold so it is less probable that the price would fall further. Furthermore, with news of their COVID-19 vaccine, there is potential for this stock to rise. In the short term, the target price is the resistance at $15.
Trade active:
Got in at $11.35.
Trade closed: stop reached:
Stop loss hit at $12.65.