Since its IPO, the stock has been increasing steadily and moving within an uptrend channel.
The price just penetrated above a upper flat trendline of ascending triangle and the trend is expected to continue to rise with some healthy pullbacks.
EP: 3.2
Next R/ TP:
• 3.315 of upper uptrend channel (coincides with 100% FE & ascending triangle target)
• 3.67 (168% FE)
Support:
• 3.095 (flat trendline of ascending triangle)
• 3.055
Risk and Reward - 0.115: 0.105 or 1:0.9
Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.
The price just penetrated above a upper flat trendline of ascending triangle and the trend is expected to continue to rise with some healthy pullbacks.
EP: 3.2
Next R/ TP:
• 3.315 of upper uptrend channel (coincides with 100% FE & ascending triangle target)
• 3.67 (168% FE)
Support:
• 3.095 (flat trendline of ascending triangle)
• 3.055
Risk and Reward - 0.115: 0.105 or 1:0.9
Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.