Tennant CompanyLong
Can TNC Maintain its Upside?
Technically this counter make fresh breakout currently. I think this counter could be potentially a big winner eventhough we are going under markey correction right now.
But be careful. Why?
Volume show no significant movement. Price action could be validated but not strong enough as previous volume.
It could be market maker are joining the market but still in cautious mode. So maybe they are trying to test supply and get rid sellers first.
My trading plan:
Monitor price movement in black area. If price can maintain there, it will be a good entry.
Monitor price if maintain in area EMA5 and EMA9
If Price moving upside, take risk for entry and maintain hold if price still above MA20 ann MA50.
The risk should not more than 10% or based on your capital.
Ride as long it could be.
- Price maintain upside above MA50
- VCP pattern multiple time from base
- Price BO above its VCP pattern
- Macd showing positive sign as price moving upside
- RSI showing positive sign as the line break it MA50, showing there is a good momentum
But be careful. Why?
Volume show no significant movement. Price action could be validated but not strong enough as previous volume.
It could be market maker are joining the market but still in cautious mode. So maybe they are trying to test supply and get rid sellers first.
My trading plan:
Monitor price movement in black area. If price can maintain there, it will be a good entry.
Monitor price if maintain in area EMA5 and EMA9
If Price moving upside, take risk for entry and maintain hold if price still above MA20 ann MA50.
The risk should not more than 10% or based on your capital.
Ride as long it could be.
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.