Technical Summary:
The 4-hour chart for GPOR presents a constructive bullish trend, with the stock price hovering above the Ichimoku Cloud, suggesting that bullish sentiment is currently prevailing in the market. The moving averages, aligned and trending upward, further support this stance, with the 9-period EMA serving as a dynamic support level.
The Relative...
GPOR has broken out to the downside of an ascending wedge with the trendline going back to the start of February with bearish RSI divergence. Entry on break or retest of support. Stoploss at last swing high and will be moving SL to BE when safe to do so. Happy trading.
Good Oil setup
Reasoning
Great Volume
W on 4D RSI chart ( Strong bullish signal)
Correction is not overextended
Good Relative Strength
Great earnings
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...
