Breaking downtrend and at rarely oversold levels

Square pulled back on market weakness and looks to have broken the downtrend after finding support above the 34-50 day EMA cloud. Going back to March, it has rarely been this oversold as indicated by the SlowStoch. This may gap up over the entry level, backtesting it and establishing support would provide ideal entry. Stop loss is below, targets above.

Anulowano zlecenie:

I must admit I was caught in the early bull trap above the marked entry which resulted in a stop loss being triggered (-30%) before it reached 142.64. That mistake aside, I believe it needs more time to set up with solid market conditions.