SHOO trianglebreakout may appear soon. price touched decreasing trendline. be ready to act on price swing.
SHOO trade ideas
✅ STOCK REVIEW: $SHOOSHOO experienced a significant upsurge, climbing from $30.35 to $44.23 from September to December, followed by a typical pullback of approximately 10.67% from its peak to a low of $39.45.
This correction is viewed positively as it likely indicates the elimination of less committed investors.
Notably, on February 7th, SHOO's price action dipped below the January 4th low before swiftly rebounding close to its previous highs. Such movements suggest a potential setup for a pivot point, expected to form within a few days to a week.
BUY POINT
Indeed, SHOO broke out to new highs on February 23rd, entering at $44.40. Our current stop loss is set at $42.00, presenting a risk of -4.74%. A Reversal alert was activated by the day's end, which is typical; we anticipate the price to surpass this level shortly. With earnings announced next week, having a buffer to maintain the position through the report would be advantageous.
SHOO - symmetrical triangleInteresting opportunity for $NASDAQ:SHOO. Large price range in response out earnings. It wicked out of this symmetrical triangle, reversed when it ran into the VWAP from ATH, and then fell back to the VWAP from Februarys beginning of the formation. SHOO has slow but steady fundamental performance over the past 5 years, but isn't a strong fit with my long term holdings.
My gameplan:
Entry ~$34
TP ~$36.63, just below the measured move from the start of the formation and at strong resistance of the retrace from ATH
SL ~$32, at a break below the pattern.
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SHOO 2523Bounced off a long term trend line
Higher low, seller exhaustion. Bull market has not been confirmed. Simply common retraces we could see. I look towards 50 percent corrections of the entire move . Will look into the lower time frames at a later time.
SHOO : two ways to buy shares (medium term)For Trade #1, refer to the linked related ideas below for reasons why I bought shares there
//The exit strategy (price close below the EMA ribbon) will be ignored if not already in profit and/or haven't hit 3R. Keep the trade on as long as the stoploss hasn't been hit yet
For Trade #2, TSI Shadow bullish crossover occured. I mark a line on the HIGH of that candle. I will wait 5EMA will cross over it, then I will buy some
shares
Every trade I will scale out once it hits 3R. I will the remaining position open until price close below the ribbon
