Technical analysis. Daily chart: The price is near the upper limit of a wide range. The level 78.00 formed by a trend break in November 2024 is ahead. Premarket: A slight decline on moderate volume. We mark the premarket high at 69.00. Trading session: We observe a sharp, almost non-pullback impulse on the opening of the trading session, which was stopped at the level of 78.00. We are considering a short trade in case of an unsuccessful attempt to breakout 78.00 due to the fact that the price approached a strong daily level very sharply on large candles and passed 1.7 ATR.
Trading scenario: false breakout with retest of level 78.00
Entry: 76.82 after unsuccessful attempt of breakout, pullback and retest.
Stop: 78.21 we hide it behind the high of the retest.
Exit: Close part of the position before premarket high level of 69.00. Close the rest part of the position around 69.22 when reversal candlestick pattern appears.
Risk Rewards: 1/5
P.S. In order to understand the idea behind the Stock Of The Day analysis, read the following information.
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Если у вас появились вопросы по данному разбору, у вас есть альтернативное мнение или вы хотите поделиться собственной акцией дня - добро пожаловать в Telegram t.me/stock_of_the_day_channel
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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.