Should find support right around here. If not, I'll probably average down but I'll update this idea if/when that happens. Would consider selling some shares (maybe half of my position) around the 200-mo. EMA, which is also currently close to the top of the channel. Plan on buying those shares back near the bottom of the channel but want to keep some shares long-term in case it breaks out of the channel.
Note
Edit - *50-mo. EMA*Note
So far support is holding but it's honestly a bit discouraging how long it's spending near the bottom of the channel. In recent past it hasn't spent much time at all before moving sharply higher. This is a warning sign and makes me more confident in setting a tighter stop loss of a weekly close below the bottom of the channel. Daily Chart
Weekly Chart
Trade closed manually
Stopped out for a minimal loss on a weekly close below the channel. I may re-enter if it sells off significantly from here otherwise I'm okay with sitting out. (This chart pattern of just over a year was much shorter than I typically like to trade on.)
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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.