Reasons to Enter Long:
This stock is in a nice strong uptrend.
The stock just made a new 52 weeks high.
It just broke a nice resistance.
Waiting for the stock to pullback around 26.15 to enter Long.
Traders/Investors are probably going to get some profits tomorrow or the day ahead and that will create a little pullback ( that's what I want).
Every time a stock makes a nice breakout on the upside or downside, the stock pull back right after ( not all the time but the majority of the time).
Possible scenarios:
The stock continue on the upside without any huge pullback ( we leave it there, no entry).
The stock pullback at our entry price which is 26.15 ( we enter there as a Long).
My target is 30.58 ( 2:1 risk ratio)
There is no major resistance until 35.22
This stock is in a nice strong uptrend.
The stock just made a new 52 weeks high.
It just broke a nice resistance.
Waiting for the stock to pullback around 26.15 to enter Long.
Traders/Investors are probably going to get some profits tomorrow or the day ahead and that will create a little pullback ( that's what I want).
Every time a stock makes a nice breakout on the upside or downside, the stock pull back right after ( not all the time but the majority of the time).
Possible scenarios:
The stock continue on the upside without any huge pullback ( we leave it there, no entry).
The stock pullback at our entry price which is 26.15 ( we enter there as a Long).
My target is 30.58 ( 2:1 risk ratio)
There is no major resistance until 35.22