With my novice brain I have outlined the below:
This stock is in uptrend and ongoing correction gives us the opportunity to re-enter at lower levels.
Pink hash-ed line above current price indicate Resistance and below indicates Support.
Buy zones at 2 support levels which co-insides with 50%-61.6% and 78.6 % Retracement on fib as well as gets the support of trend-lines. All buy must be done on the right side of counter trend line ( coloured Red) . Stop-loss can be put below A on fib (70.54) or below 74.20 which is last point of U-Turn. I would prefer to put below A.
Will further update next week.
Any comment on this would be appreciated.
Happy Trading!
This stock is in uptrend and ongoing correction gives us the opportunity to re-enter at lower levels.
Pink hash-ed line above current price indicate Resistance and below indicates Support.
Buy zones at 2 support levels which co-insides with 50%-61.6% and 78.6 % Retracement on fib as well as gets the support of trend-lines. All buy must be done on the right side of counter trend line ( coloured Red) . Stop-loss can be put below A on fib (70.54) or below 74.20 which is last point of U-Turn. I would prefer to put below A.
Will further update next week.
Any comment on this would be appreciated.
Happy Trading!
Trade active:
Buy Zone 1 hit. Showed strong move after hitting a low of 83 now trading at 98.
Trade active:
Target 1 hit.