$NYSE:NRGV poised for a breakout with multiple Price TargetsThe global push towards a cleaner energy future is accelerating, but a significant piece to the puzzle remains: the intermittency of renewable energy sources like solar and wind. This challenge has fueled a market for energy storage solutions.
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Analysis
Looks like this is setting up to break the $2.56 resistance line.
Observations:
This appears to be ready to break out of multiple patterns, which will present multiple near term price targets
$1 upside (~$4)... very close to the head and shoulders pattern PT of $3.80.
Falling wedge pattern PT of $7.17
- Squeeze momentum is building and firing.
- Current volume doesn't come close the the recent spike, but it is above the MA volume.
Entry Point ~$2.60 (or above) - after a closing above the $2.56 resistance
NRGV trade ideas
NGRV 34% Profit is possible but Risk Reward Ratio is not good
Current Price Action:
- Trading at $2.47, up 4.78%
- Breaking out from a recent consolidation pattern
- Showing first signs of trend reversal after extended downtrend
Elliott Wave Analysis:
- Appears to be completing Wave IV of a larger structure
- Triangle pattern forming within Wave IV
- Potential for Wave V upward movement targeting $3.85 (1.618 Fibonacci level)
Key Technical Levels:
1. Support:
- Major support at $1.60 (recent lows)
- Triangle pattern support around $2.00
- Moving averages providing dynamic support
2. Resistance:
- $2.36 (0.236 Fibonacci level)
- $2.61 (0.786 Fibonacci level)
- $3.34 (1.272 Fibonacci extension)
Volume Analysis:
- Recent volume increase supporting the breakout
- Bottom indicator showing improving momentum
- Volume pattern suggests accumulation phase
Trading Considerations:
- Breakout from triangle pattern suggests bullish momentum
- Stop loss could be placed below triangle support ($2.00)
- Risk/reward appears favorable for long positions
Potential Risks:
- Stock has been in long-term downtrend
- Needs to maintain above breakout level
- Historical volatility suggests tight stop losses needed
MBV-SP500-CLIMBER: NRGVIntroduction:
This trading idea is based on a Long-Only strategy that utilizes the Dynamic Movement Index (DMI), supplemented by the Average Directional Index (ADX) and an Average True Range (ATR)-based Trailing Stop-Loss.
Strategy Overview:
Main Indicators: DMI, ADX, ATR
Time Frame : Variable, based on the DMI length (Default: 14 days)
Objective: To take long-term positions in bullish market phases
Optional Trading Hours and Seasonality:
Yellow Background (Trading Days) : Positions are only opened on trading days highlighted with a yellow background on the chart.
Blue Background (S&P 500 Seasonality) : Positions are only opened during periods highlighted with a blue background on the chart.
Strategy Details:
ADX and DMI : A Long signal is generated, taking into account the optional trading hours and seasonality, when the ADX exceeds a defined threshold and the positive DMI is greater than the negative DMI. This indicates a strong upward movement.
ATR-based Trailing Stop-Loss : The Stop-Loss is dynamically set with a multiplier of the ATR value below the current price and updated to secure profits.
The strategy script is available for free on TradingView.
You can find it under the name: "MBV-SP500-CLIMBER"
Please share your optimizations with the TradingView community by leaving comments under the script.
Please provide feedback on the strategy, especially on the trading signals, in the comments.
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Einleitung:
In dieser Handelsidee beruht auf einer Long-Only-Strategie, die auf dem Dynamic Movement Index (DMI) basiert, ergänzt durch den Average Directional Index (ADX) und einen Average True Range (ATR)-basierten Trailing Stop-Loss.
Strategie-Überblick:
Hauptindikatoren : DMI, ADX, ATR
Zeitfenster : Variable, basierend auf der DMI-Länge (Standard: 14 Tage)
Ziel : Langfristige Positionen in bullishen Marktphasen
Optionale Handelszeiten und Saisonalität:
Gelber Hintergrund (Handelstage): Positionen werden nur an den im Chart mit einem gelben Hintergrund hervorgehobenen Handelstagen eröffnet.
Blauer Hintergrund (S&P 500-Saisonalität): Positionen werden nur während der im Chart mit einem blauen Hintergrund hervorgehobenen Zeiträume eröffnet.
Strategie-Details:
ADX und DMI : Ein Long-Signal wird unter Berücksichtigung der optionalen Handelszeiten und Saisonalität generiert, wenn der ADX einen definierten Schwellenwert überschreitet und der positive DMI größer ist als der negative DMI. Dies signalisiert eine starke Aufwärtsbewegung.
ATR-basierter Trailing Stop-Loss : Der Stop-Loss wird dynamisch mit einem Multiplikator des ATR-Wertes unter dem aktuellen Preis gesetzt und aktualisiert, um Gewinne zu sichern.
Das Strategie-Skript ist auf TradingView kostenlos verfügbar .
Sie finden Sie unter dem Namen: "MBV-SP500-CLIMBER"
Bitte teilen Sie Ihre Optimierungen mit der TradingView-Community, indem Sie Kommentare unter dem Skript hinterlassen.
Bitte geben Sie Feedback zur Strategie, insbesondere zu den Handelssignalen, in den Kommentaren.