LM8 - Volume profile Long Trade
A Nickel (so hot right now!) explorer with management who know the area well with promising results so far.
Break out at the start of this year and has continued to trend up, ascending triangle pattern forming. Couple of false breakouts followed by heavy selling - profit taking for those who invested early.
I anticipate price action to pullback to the high volume node area (white rectangle area). There are high volumes being traded here and I believe it will be supported.
Looking to enter the trade around the middle of the area - 0.915. Looking for a swing trade over the next couple of weeks or more setting my initial TP just above the recent ATH as this stock can go higher with the current tailwinds behind it. Conservative SL just below recent strong support level.
RSI is below 80, recent heat has come out of the stock.
Break out at the start of this year and has continued to trend up, ascending triangle pattern forming. Couple of false breakouts followed by heavy selling - profit taking for those who invested early.
I anticipate price action to pullback to the high volume node area (white rectangle area). There are high volumes being traded here and I believe it will be supported.
Looking to enter the trade around the middle of the area - 0.915. Looking for a swing trade over the next couple of weeks or more setting my initial TP just above the recent ATH as this stock can go higher with the current tailwinds behind it. Conservative SL just below recent strong support level.
RSI is below 80, recent heat has come out of the stock.
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