Long-term uptrend.
Price forming a rounded bottom.
The price has tried to move lower several times already and couldn't, so the move up today looked like a decent trigger to get in. Also, prior rounded bottoms in this stock have only given one opportunity to get in.
3:1 reward to risk. Keeping target near prior high, which is quite conservative. If moving well, may extend that out a bit.
For full details on this strategy, see the Stock Swing Trading Course: vantagepointtrading....rading-video-course/
Price forming a rounded bottom.
The price has tried to move lower several times already and couldn't, so the move up today looked like a decent trigger to get in. Also, prior rounded bottoms in this stock have only given one opportunity to get in.
3:1 reward to risk. Keeping target near prior high, which is quite conservative. If moving well, may extend that out a bit.
For full details on this strategy, see the Stock Swing Trading Course: vantagepointtrading....rading-video-course/
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/