As we can see at the chart, the price has made a significant upward movement, breaking out from a pattern called a 'symmetric triangle.' Currently, the price is trading above a specific line when we observe it on a daily basis. There are two ways we can consider entering a trade:
1.If the price comes back to the breakout level (resistance) and stays above it, we can consider entering the trade.
2. if the price doesn't retest the resistance, but instead shows a strong increase in trading volume with a noticeable large candle, that could also be a good signal to enter the trade.
We can aim for at least a 10% gain from this level while maintaining a reasonable 1:1 risk-reward ratio
It was just for demonstration purpose, Do not take it as reccomdation.
1.If the price comes back to the breakout level (resistance) and stays above it, we can consider entering the trade.
2. if the price doesn't retest the resistance, but instead shows a strong increase in trading volume with a noticeable large candle, that could also be a good signal to enter the trade.
We can aim for at least a 10% gain from this level while maintaining a reasonable 1:1 risk-reward ratio
It was just for demonstration purpose, Do not take it as reccomdation.
Trade active:
This stock is moving slowly but steadily. Our patience might be tested, but remember, swing trading is all about patience.
Comment:
Finally 45 days of patience paid off well as it has reached its target of 94.2 level 🥳🥳. Now it still looks promising to reach 100 level.