Short
EGHT Pullback Idea
Stock has a momentum build up for the past 3 years, but it has been increasing in volatility as the bigger picture ascending triangle has been setting up.
Recent high just got broken, but the high volatility associated with it implies a greater risk + chance of reversal.
With such increased volatility and weakening momentum, a pullback seems to be up next if not a strong downward move.
Stop at 18.27
Target at 16.56
Recent high just got broken, but the high volatility associated with it implies a greater risk + chance of reversal.
With such increased volatility and weakening momentum, a pullback seems to be up next if not a strong downward move.
Stop at 18.27
Target at 16.56
Trade closed: target reached
Target was hit yesterday but I'm now putting in the update.This week has been quite fruitful.
I look forward to play weak stocks that may continue to bleed from this week's volatility & strong stocks that should stand their ground against market panic.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.