STRIDE PHARMA - INVERTED HEAD AND SHOULDERS / DOUBLE TOP
Updated
Hello folks!
Idea 1 - We can look at it as an inverted head and shoulder pattern with neckline at 930, with a potential target of 1000 - assuming a breakout with good volume
Idea 2 - Think of it as a double top pattern that is approaching the support - do not enter right away until the momentum downwards slows down - Better to see the price action pattern at 830 levels (enter with a green candle) for a target of 900 with SL around 803 risk reward here is 1:3
Idea 3 - See if it breaks the trendline and goes down to the 750 levels where it has both 200MA support and a demand zone, at which point an entry can be considered for a target of 930 (the previous swing high) - SL should be below the 200 MA , giving you an excellent risk reward setup of 1:9
I am new to this - so if anyone feels like chiming in, please feel free to do so.
Thank you for reading.
Idea 1 - We can look at it as an inverted head and shoulder pattern with neckline at 930, with a potential target of 1000 - assuming a breakout with good volume
Idea 2 - Think of it as a double top pattern that is approaching the support - do not enter right away until the momentum downwards slows down - Better to see the price action pattern at 830 levels (enter with a green candle) for a target of 900 with SL around 803 risk reward here is 1:3
Idea 3 - See if it breaks the trendline and goes down to the 750 levels where it has both 200MA support and a demand zone, at which point an entry can be considered for a target of 930 (the previous swing high) - SL should be below the 200 MA , giving you an excellent risk reward setup of 1:9
I am new to this - so if anyone feels like chiming in, please feel free to do so.
Thank you for reading.
Note
Forgot to turn on the 200 MA - it will make sense when you turn it on (currently at 753)
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