ULVR | Long idea on local support
Updated
Unilever has been trading within the local range created between previous earnings gap up and local high resistance for a few months now.
I've been looking for an entry point to increase my current position as I like this company's positioning in light of 2021 consumption trends and the quality dividends paid to shareholders.
I'm looking to increase as detailed in this chart, entry point, TPs and SL indicated in the chart.
The very tight stop loss is justified by the potential drop down to long term support if current local support is broken.
Any comments are welcome!
Good luck!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
I've been looking for an entry point to increase my current position as I like this company's positioning in light of 2021 consumption trends and the quality dividends paid to shareholders.
I'm looking to increase as detailed in this chart, entry point, TPs and SL indicated in the chart.
The very tight stop loss is justified by the potential drop down to long term support if current local support is broken.
Any comments are welcome!
Good luck!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Trade active
After watching the tape on lower time frames I believe we've hit bottom.Entered at 4380, will be watching my tight SL (4290) very closely.
Hope this works out, the chart is speaking all the right words!
Trade closed: stop reached
Quite surprisingly this has reversed down past my stop loss.I've closed the position accordingly
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