Stock Of The Day / 12.31.24 / BDMD12.31.2024 / NASDAQ:BDMD #BDMD
Fundamentals. Neutral news background.
Technical analysis.
Daily chart: Strong squeeze on a range movement. We mark levels 2.58 (high of the daily candle from 12.19) and 7.88 (high of the candle after the gap).
Premarket: Gap Up on moderate volume.
Trading session: The price consolidated above the level of 2.58 after an impulse growth at the opening and breakout 2.58. An attempt to return below 2.58 at 10:06 a.m. was unsuccessful and the price began to tighten to the level. We are considering a long trade to continue the movement in case the tightening structure is broken upward.
Trading scenario: pullback along the trend (false tightening) to the level 2.58
Entry: 2.94 after the tightening structure is broken and held the price above the level.
Stop: 2.49 we hide behind the level and behind the round number 2.50
Exit: Close part of the position near 6.66 when signs of weakness in the upward movement appear. Close the remaining part before the daily level of 7.88
Risk Rewards: 1/10
