CWAN is a name most of us have never heard of. They serve hedge funds, asset managers, and insurance clients with Analytic software.It looks like it is in the process of putting in a higher low. It has regained the 8 and 20 EMAs and the MACD has turned positive. It can still go either way. There is overhead resistance at both the upper horizonal line on the chart and the now downward sloping 50 DMA (red).
I have an alert set on the upper resistance line around 29.50. Should that trigger, I will go to a lower timeframe like a 5-minute chart to see if I can get a good entry. My stop, if I take the trade would be on a close below the 20 EMA (green). Making for a tight and good risk reward trade. I do not set targets, but I do think it has a chance to get back up to around 32.00 – 32.50. Which is around a 13% gain if that were to happen.
If you like this idea, make it your own trade that fits your trading style.
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.
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.
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.
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.