Fast Recuperation on breakdown during earnings. Betting on continued uptrend.
If the uptrend persists, will form an ascending triangle at $18.00.
If this gets broken, this will be a further bullish sign.
Stop set to below the low reached during earnings breakdown.
Low liquidity necessisates a limit order. Will buy on a pullback to 9.35
This trade feels uncomfortable as I would have rather if it went down to the lower trendline, but uncumfortable seems to be working well these days, so be it.
LIMIT Order at 18.58
Careful as it trades on very low volume
Limit order at the lower end of the ATR range should help with a good entry point and increase RRR
1. Spike on the 22nd indicates no support above 27.20 (provides a more vavourable RRR)
2. Upper Range of downtrend chart starting from 26.12
3. Relative weakness on the market, as well as a very indifferent reaction on earnings day
Today's weak market had me looking for shorts, and this is what i found so far:
An 8 day run up has been broken at a key resistance level.
6 days before earnings - the price should be rather directional at this point - if the idea is wrong, then the exit will be quick, above the current swing high.
Has been relatively weak since mid march, which is a good...
