Bullish consolidationThis is a bullish consolidation pattern from Loomis AB, if this arrow breaks there's a big chance for an uptrend. Short covering into trending bullish.
LOOMIS trade ideas
LOOMIS - Trade oppurtunity*** LOOMIS ***
1. Buy order in on OPEN tomorrow.
2. TP (close above 5sma daily)
3. SL Same as above.
Positives:
-Strong uptrend, trading above 200sma on days.
-Short significant retrace, giving us an entry opportunity for trend continuation for the short run. Somewhere in the 2-5% profit area.
Negatives:
-Not the best quarterly report delivered for q1 2021 7 q1 2020
Keep updating the trade as we go.
