0I14 trade ideas
CGNX Parabolic TrendInvest in CGNX until the the price breaks out of the parabolic trend. Exceptionally large preceding green bar, then <= red bar with high volume will be the indicator for exiting.
There is current somewhat concerning drop with a fair amount of volume, so wait for confirmation of low volume and regression to middle of trend prior to entry.
CGNX bullish off 20maCould buy today on hourly or wait for another bullish candle. RSI at 50, bouncing off ma.
ADX turning, DMI+ diverging, MACD cross and large negative volLarge negative volumes in CGNX coupled with divergence in the DMI+ line may indicate the trend is beginning to turn.
This is further confirmed with the presence of a crossed MACD and large negative volume indicating distribution from large holders. Stop above the psychological $50 level which is also a new high. Target of $46.70. At current prices this is an attractive risk/reward proposition.
