Possible Short Squeeze
Updated
Price has bounced off of a significant resistance level (Blue Line)
I have gone long after seeing bullish divergence (Orange Lines), along with an increase in volume.
EVH also has a high percentage of its float short at 34.20%, which has me thinking that with the recent bullish move, a large short squeeze may occur.
Price target is $18.00 for a R:R of 4.42
Went long with an entry of $16.32 after seeing a break of $16.30, Stop loss at $15.94
I have gone long after seeing bullish divergence (Orange Lines), along with an increase in volume.
EVH also has a high percentage of its float short at 34.20%, which has me thinking that with the recent bullish move, a large short squeeze may occur.Price target is $18.00 for a R:R of 4.42
Went long with an entry of $16.32 after seeing a break of $16.30, Stop loss at $15.94
Trade closed: target reached
Trade Closed at $19.00 for a return of 16.42%
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.