Stock Of The Day / 12.19.24 / OMER

12.19.2024 / OMER

Fundamentals. Growth on the back of positive results from a treatment trial.

Technical analysis.
Daily chart: A pullback on an uptrend after a long accumulation. Strong daily level 12.00 is ahead, which stopped the upward movement at the end of November.
Premarket: Gap Up by 30% on moderate volume.
Trading session: After the opening, we observe a trending upward movement with confirmation of the 12.00 level. We observe a volume output that is twice the volume at the beginning of the trading session some time after the breakout of the 12.00 level. This may serve as a signal for the trend to be exhausted. We consider a short deal in case of a return below the 12.00 level.

Trading scenario: false breakout with retest of level 12.00

Entry: 11.78 on the breakdown of the structure of the mini-tightening after the breakout and retest of level 12.00.

Stop: 12.06 we hide it behind the level with a reserve for slippage.

Exit: Close part of the position before the level of the first pullback 10.60 (RR 1/4), close the remaining part of the position upon return and holding above the level of 10.60 (RR 1/4).

Risk Reward: 1/4
Multiple Time Frame AnalysisstockofthedaySupport and Resistance

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