GEELY push out of a basing formation that lasted more then 2 years on strong volume. The week is not over yet but the odds are good that it will close a bullish candle this week no lower than 19.20.
Hoever we could still have some retracement over the next few weeks and should that happen, 18.00 is going to be a very strong support. I believe the odds of Geely hitting 23.70 eventually is good and perhaps even 27.50 for the longer run.
Stop loss will be placed just below 18.00 for now and trail it up along the way to protect profits. However need to find a balance between a tight stop loss and one that gives it enough room to swing and eventually move higher.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you
Hoever we could still have some retracement over the next few weeks and should that happen, 18.00 is going to be a very strong support. I believe the odds of Geely hitting 23.70 eventually is good and perhaps even 27.50 for the longer run.
Stop loss will be placed just below 18.00 for now and trail it up along the way to protect profits. However need to find a balance between a tight stop loss and one that gives it enough room to swing and eventually move higher.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you