STRIDE: Multi-Year Breakout: Monthly : Month ending Aug-24

9 paź 2024

STRIDE: Multi-Year Breakout: Monthly Timeframe: Month ending Aug-24

Price, Volume, RSI, Timeframe of breakout & Timeframe of analysis

• Stock broke its all-time high (1323.15) it made in Nov-15 and closed above in the month of Aug-24
  
• Volumes in the month of Aug-24 was NOT above the 9 SMA [NEGATIVE]
  
• RSI in the month of Aug-24 (86.10) is above 60.
  
• A multi-year (8+ years) breakout on a monthly time frame
  
• The stock has broken the highs it made in Aug'24 in Sep-24 and is currently (08-Oct-24) trading above the highs it made in the month of Sep'24
  

Numbers

• Breakout analysis High (Jan-08) = 1323.15/-
  
• Drawdown (marked on chart) = 1055.15/-
  
• SuperTrend (Sep-24) = 891.94 is positive
  
• ATR (Sep-24) = 136.31
  
• Low made in the last analysis time frame (Sep-24) = 1250.55
  

Entry / Exit

• Entry = Close of 08-Oct = 1443.80/-
  
• Target = Breakout level + Drawdown during consolidation phase = 1323.15 + 1055.15 ~ 2370
  
• Stop Loss = 1 ATR below previous candle's (Sep'24) low = 1250.55 - 136.31 ~ 1110
  
• Risk:Reward = 2.77:1
  
• Exit criteria = Reaches Target || Supertrend turns negative || Price goes below 18 EMA
  

Additional Notes

• This is probably not the best trade. The stock did not breakout with good volumes
  
• I also expect the stock to retrace back to its breakout levels. It has been breaking it's previous months high for last 4 months starting Jun'24.
  
• Entering the trade anyways since it seems to be breaking out from a double bottom pattern on a monthly timeframe
  

9 paź 2024

Zlecenie aktywne

Bought @ 1479.95