Hi all,
Sogo is looking to go parabolic as a massive bull flag is starting to take shape. Price action has repeatedly tried to take out the support of 13.82 but has been rejected every time leading me to believe that we will never see a Sogo stock price below 13.50 any time soon. Volume has tapered off a bit as it consolidates in the Bull flag and the Stoch RSI is near zero right now on the 4 hour chart so an explosion to the upside seems imminent in my opinion. Wait for the breakout or enter now and set a stop around the 13.30 mark as price action has been very volatile as of late. A take profit mark would be around $20. Good luck!
Sogo is looking to go parabolic as a massive bull flag is starting to take shape. Price action has repeatedly tried to take out the support of 13.82 but has been rejected every time leading me to believe that we will never see a Sogo stock price below 13.50 any time soon. Volume has tapered off a bit as it consolidates in the Bull flag and the Stoch RSI is near zero right now on the 4 hour chart so an explosion to the upside seems imminent in my opinion. Wait for the breakout or enter now and set a stop around the 13.30 mark as price action has been very volatile as of late. A take profit mark would be around $20. Good luck!
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Price gapped down overnight below key resistance and a sell off ensued with no support found yet. Always set a reasonable stop loss or wait for a breakout when entering a trade as things can go south pretty fast in the markets these days.