VNET Breakout Long
An idea for a long trade on VNET, Showing signs of consolidation and possible uptrend on the 3 Month chart. Wait for a break above the consolidation resistance line, confirmation of uptrend leads to an entry on the second low, placing stop loss at the last low or below the support created by old resistance. Follow uptrend with a trailing stop loss to maximize profits. Refer possibly to MACD & RSI to bolster confidence upon entry if it doesn't show signs of being overbought.
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.