Stock Idea: CME (weekly base on base)
Not easy to find base patterns out there but CME is one of them.
On the weekly time frame we have a multi-year base with a head and shoulders formation, followed by a breakout over a 12 week base.
Zooming in on the daily frame there's a few ways to manage the trade if getting long.
- Short term you'd want that 21ema to hold
- Longer term position trade you'd want that 50dma to hold
On the weekly time frame we have a multi-year base with a head and shoulders formation, followed by a breakout over a 12 week base.
Zooming in on the daily frame there's a few ways to manage the trade if getting long.
- Short term you'd want that 21ema to hold
- Longer term position trade you'd want that 50dma to hold
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