08/07 Swing trade plan - Multi-Time Frame Breakout Multiple time frames - multi month consolidation in ascending triangle pattern. It is above SMA 20, 50 and 200 Not overbought with RSI 60 ATR 5 Catalyst: High institutional backing so the big money has done some leg work and bought in, that and explosive earnings. Also, decent short float to help fuel a break out. Entry: Pulled back, entry between $107 -$114 (support to current price) Stop: $101 ATR below support Profit: $128 to $134 a 2:1 risk
08/07 Swing trade plan - Multi-Time Frame Breakout Multiple time frames - multi month consolidation in ascending triangle pattern. It is above SMA 20, 50 and 200 Not overbought with RSI 60 ATR 5 Catalyst: High institutional backing so the big money has done some leg work and bought in, that and explosive earnings. Also, decent short float to help fuel a break out. Entry: Pulled back, entry between $107 -$114 (support to current price) Stop: $101 ATR below support Profit: $128 to $134 a 2:1 risk
RVOL less than 1 so will aim for lower entry and not chase.
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