MA have caught up in this name which offers a good entry point that is not overextended. Stock has made 2 100% run ups after a consolidation pattern. If we look at volume in the last run up there was more volume than the previous run which indicates inst. support. Will manage risk at the lows of Thursday which is about a 3.7% risk where the upside potential is the previous peak or 31%. ATR is also declining which is a positive signal.
Market breath overall is worsening which makes me cautious moving into next week. Will have tight risk through next week and be taking minimal new positions until the market tells me we are back in a uptrend.
Market breath overall is worsening which makes me cautious moving into next week. Will have tight risk through next week and be taking minimal new positions until the market tells me we are back in a uptrend.