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I love this setup!
We have lower highs over a good time period, and a strong support. So... what will happen? I guess, as the support and the resistance had been tested multiple times already, there is a guaranteed breakout.
And since we are in a uptrend, I believe it will rocket away. Sky is the limit. So what about NASA?
I will enter a long position, as soon ...
This one had an insane run the last couple month. Here comes the first bigger pullback this year. Is it a sign of weakness? I dont think so. I believe, it was just profits taken.
So I will ride the trend again, and follow the price to where it has never been (with this stock).
Wait how Price reacts to the resistance and then place your orders. Wait for your ...
1. the main trend goes down.
2. a double top is forming out
3. Price bounced off that resistance
Aren't that 3 good reasons to go short?
Tel me what you think!
Long or short?
Resistance has been tested several times, SMA 200 is a long signal, that speaks for a long breakout.
On the other hand however, resistance has been tested several times. And held. And held. And held. It could also be a bounce off that resistance.
Time will tell.
What are you suggesting? Let me know in the comments
As we can see, the channel is broken, and the heavy resistance as well (look up the weekly chart for a bigger timeframe!).
I believe we have a good chance for this stock to go up and even with an SL around 1.85 and TP at round 2.86 there is a risk/reward close to 1:2
So at best, wait for the pullback, to make sure its not a false breakout.
I already went in on ...
New week, new charts =)
Do we have a Wedge or a flag?
More important, can this strong trend continue, or will it brake down?
As a trendfollower, I say YES WE CAN! As a realistic person, I say "good thing we have that paper trading tool"
So only for research, I will open a long position here, but only a PAPER TRADE! It is quite risky after a spike like this, ...