Trianglebreak incoming!
Volatility is high on this one, post and pre market gaps are huge here making the price fluctuate at a wide spread, however there´s a clearly ascending triangle formation concluding and the resistance around $108 won´t hold much longer.
I identified the upcoming resistances after breaking the triangle: 111.68, 115.63, 121.9 and 134.23.
Another crash of the stock is unlikely because of it´s fast recovery rate, but because we are on times of uncertainty look very cautiously if the price drops below $100.00.
Trade Idea:
- Open long position around $103-$107 (because of the wide spread I think there´s still time to get a better entry point than 106.3, but does a few bucks matter when this will rocket up?
- SL: 98.5 (should be 100.00 but volatility might make you a bad play)
- TP1: 120.00
- TP2: 133.00
Might want to use resistance/support prices to close and open positions if you are a swing trader.
Let´s take Interdimensional TV to Disney+!
I identified the upcoming resistances after breaking the triangle: 111.68, 115.63, 121.9 and 134.23.
Another crash of the stock is unlikely because of it´s fast recovery rate, but because we are on times of uncertainty look very cautiously if the price drops below $100.00.
Trade Idea:
- Open long position around $103-$107 (because of the wide spread I think there´s still time to get a better entry point than 106.3, but does a few bucks matter when this will rocket up?
- SL: 98.5 (should be 100.00 but volatility might make you a bad play)
- TP1: 120.00
- TP2: 133.00
Might want to use resistance/support prices to close and open positions if you are a swing trader.
Let´s take Interdimensional TV to Disney+!
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