CRSP LONG breakout potential
CRSP got some attention a few months ago with the Netflix series "Unnatural Selection" in which it melted up for a while before crashing down on profit taking
As CRSP broke its minor downward trendline and came back down to a retest, a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
As CRSP broke its minor downward trendline and came back down to a retest, a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
- The recent downtrend has been broken after price recently bounced at a major support line
- The 20ma was broken, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop
- Price is now finishing a retracement after bouncing off recent highs, so we can avoid that pain by entering now that the retracement seems to be flattenting out
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
Komentarz:
Stop reached, trade closed
Transakcja zakończona: osiągnięto poziom stop