Freshworks looks to be in an inverse H&S pattern. There are many ways to draw in a neckline, I did it as simply as I can see it. I missed the break of the neckline on May 31 that had plenty of volume. It’s now moving past recent highs and I have started a ¼ size position.
I like several things about this stock and the first fundamental I like is, it makes money! It’s also been basing for about 15 months, even though it has been wide and loose. It’s above the 40 Week MA (White) and above all other MAs.
I am running a tight stop just below today’s low. A more logical long-term holder would likely put it under the May 25th low of 14.37. But that is too wide for me. Hope this helps someone. Ideas, not investing / trading advice.
Thanks for looking. Constructive comments welcome.
I like several things about this stock and the first fundamental I like is, it makes money! It’s also been basing for about 15 months, even though it has been wide and loose. It’s above the 40 Week MA (White) and above all other MAs.
I am running a tight stop just below today’s low. A more logical long-term holder would likely put it under the May 25th low of 14.37. But that is too wide for me. Hope this helps someone. Ideas, not investing / trading advice.
Thanks for looking. Constructive comments welcome.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.