Short term bounce for NVRO
Healthcare sector and Medical device industry had been positively impacted by the pandemic.
A short term bounce can be expected.
Technical Analysis:
- A candle pierced the Lower Bollinger band, meanwhile being rejected by 50EMA
- The pin bar is resting on the 61.8 Fibbonacchi in conjuncture with the price rejection
- Price action have yet to reach overbought zone
- Momentum of relative strength is considered strong
The company is not fundamentally strong. Hence, I have set 2 different take profit zones with a RR of 1:1.3 & 1:1.5
Will be expecting a very short term play
Healthcare sector and Medical device industry had been positively impacted by the pandemic.
A short term bounce can be expected.
Technical Analysis:
- A candle pierced the Lower Bollinger band, meanwhile being rejected by 50EMA
- The pin bar is resting on the 61.8 Fibbonacchi in conjuncture with the price rejection
- Price action have yet to reach overbought zone
- Momentum of relative strength is considered strong
The company is not fundamentally strong. Hence, I have set 2 different take profit zones with a RR of 1:1.3 & 1:1.5
Will be expecting a very short term play
Trade closed: target reached:
Target Reach, with solid profits
Ho Ho Ho~ Early Christmas Gift!
Ho Ho Ho~ Early Christmas Gift!