The earnings drop on 5/2 provided a backtest of a rectangular breakout and a bounce off the 200ma.
I bought at 13.52, and based on the continued bullishness I am adding at 14.46. Breakeven stops. Target is the top of the rectangular breakout. Second target is the overhead trendline. That said, I would like to see this develop into a long term hold.
I bought at 13.52, and based on the continued bullishness I am adding at 14.46. Breakeven stops. Target is the top of the rectangular breakout. Second target is the overhead trendline. That said, I would like to see this develop into a long term hold.
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Along with closing my TQQQ yesterday, I'm feeling weakness in tech stocks overall.
Intraday, it did bounce off the 10ma, but now has resumed declining.
I still like this stock, I think the best case would be for it to form a rectangle between $10 and $13 over the coming weeks. With the general markets due for an ICL decline, I do not think it will rally now. Further consolidation down to the 200ma would be very constructive.
Intraday, it did bounce off the 10ma, but now has resumed declining.
I still like this stock, I think the best case would be for it to form a rectangle between $10 and $13 over the coming weeks. With the general markets due for an ICL decline, I do not think it will rally now. Further consolidation down to the 200ma would be very constructive.