I Like How This Rebound is Playing Out So Far
Possible Swing Trade Opportunity
We saw big volume come into this ticker on Thursday. I may be mistaken, but I believe the catalyst was a price upgrade. Whatever the reason was for the volume, it followed a recent rebound off of the support of a long-term price channel. We might have a legitimate rebound on our hands. I am keeping a close watch on this name.
I thought it would take longer before we saw a rebound. Now I wish I had already bought into this dip. It is possible that the price will climb to the top of the price channel. I am still skeptical, though.
Remember that the long-term trend is down, so if you are planning on entering into a long position here, then use a stoploss. Just in case the long-term trend continues.
Good Luck Trading
As always, I am not a financial professional, and this is not investment advice. Be careful and be patient. Dont anticipate the market. Rather, participate in the market. Don't invest money that you can't afford to lose. Give some of your investments time and know when to cut your losses.
Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. Do your own due diligence. And just follow the trends. A trend is your friend. Good luck trading.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
16KFollowers
2943Following
28KVisitors
Follow
AbdulK : Company announced R2 at 45k price points. I entered at right time yesterday.
SpyderCallOP AbdulK: Nice. New product launches can cause big moves in the market sometimes.
MonkeyGee : I go into this after the big dip. sold half yesterday too early. holding on for more
SpyderCallOP MonkeyGee: I just bought a small amount of shares. Nothing too big.