Poor earnings but good technical setup. So this is less favorable
Reasoning
My Would Be Trade Plan
Main Sources of My Knowledge
My Indicators
14 Period RSI.
Composite by Constance Brown
Reasoning
- Drop down to 2 hour timeframe and you will see that Elliott wave is done
- This stock has bad earnings so that is a minus
- 4D RSI is testing moving average support
- Great relative strength
My Would Be Trade Plan
- - Risk about 1.5ATR and aim to ride up to 4.5ATR (1:3)
- - Raise stop once Trade moves 2ATR in your direction
- - Add on new highs after a pullback. (Then raise stop to keep original risk and also do not modify the target price)
Main Sources of My Knowledge
- Mark Minervini
- Constance Brown
- William O'neil
- Speakers on Trader Lion Youtube
- Adam Khoo
My Indicators
14 Period RSI.
- 9SMA and 45EMA Moving Averages added
Composite by Constance Brown
- This is for catching failures in the RSI.
- The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
- Composite Settings
- Author : Constance Brown (Connie Brown)
- RSI Length : 14
- RSI Momentum Length : 9
- SMA Length : 3
- Fast Simple Moving Average : 13
- Slow Exponential Moving Average : 33