Long
Razor to start a rally from the break-out of a rounding bottom?
Razor appears to be performing well this year under the backdrop of CV-19. Negative earning has been continuously improving. It's very likely that the company will report a come-back of positive earnings in the next earning call.
From pattern standpoint, Razor has recently completed the formation of a long-term Rounding Bottom.
A break-out was also formed nicely (with retraction in the last few days)
As long as it continues to stay on top of the neck-line ($2.23), the uptrend will likely to bring the price to $3.5/$3.6 range at the minimum.
From pattern standpoint, Razor has recently completed the formation of a long-term Rounding Bottom.
A break-out was also formed nicely (with retraction in the last few days)
As long as it continues to stay on top of the neck-line ($2.23), the uptrend will likely to bring the price to $3.5/$3.6 range at the minimum.
Trade active
I am very glad that Razor issued a positive profit alert today and drove its price through the roof +18.2% to 2.73HKD.Its profit story and the price actions today aligned with the chart pattern prediction nicely:
Razor spent the last 10 trading days forming the retraction after the initial break-out. Stayed above the neck-line throughout.
It shot up today once it touched base with SMA 20-Day last Friday.
Remain to be a strong buy.
Trade closed manually
It closed at 2.18HKD today; way below the neck-line support. The whole break-out trend from the rounding bottom was destroyed by the plunge this afternoon.This trade was aborted.
Trade active
Seemingly a "Double Bottom" formed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.