Long
Low Risk Entry on TELL with High Upside
Updated
Tell has a 20 month consolidation after the February/March 2020 collapse. Now the sector is breaking out and it is above the 30 week moving average at $3.34. You can set a stop below the 30 week moving average. I would be accumulating shares between the 10 week moving average at $3.47 and the September High of $4.27. Once it clears the September high it should be off to the races. A conservative approach would be to set a buy stop at $4.28 but I like accumulating between $3.47 and $4.27. First target is the pre-covid $6.44. I'll be riding stage 2 breakout.
Note
Published an update this time showing the Monthly chartTrade closed: stop reached
Stops didn't hold in November
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.