Potential 25% Swing on GFS
Technicals:
I will play this situation with a short-term, long swing trade. My profit target is ~25%, at 71.39, with a risk/reward of 3.29 and stop loss right below the swing low, at 52.61
- GFS is in an ascending channel
- Has just had a reversal off the channel support line
- Reversal confirmed by crossover above lower line of regression channel
- There's around 30% upside to the resistance line of the channel.
I will play this situation with a short-term, long swing trade. My profit target is ~25%, at 71.39, with a risk/reward of 3.29 and stop loss right below the swing low, at 52.61
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.