CAIRN Energy (CNE) - Long entry
- This stock has broken through and closed above the 200 day MA resistance
- We also see that price has beaten the previous high and found support on the 140 level
- The candlestick formation also supports our Bullish bias we can see a Bullish pin bar/inside bar combo just above the 200 MA
- We have taken a small entry this morning and will add more to the trade should the price break the inside bar to the upside
- Initial take profit is just below the previous event area at the 170 level.
- We also see that price has beaten the previous high and found support on the 140 level
- The candlestick formation also supports our Bullish bias we can see a Bullish pin bar/inside bar combo just above the 200 MA
- We have taken a small entry this morning and will add more to the trade should the price break the inside bar to the upside
- Initial take profit is just below the previous event area at the 170 level.
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