ACCD Going For Gap Fill
Accolade, Inc is seeing a move higher this week along with other healthcare stocks. Yesterday price opened and closed above diagonal resistance and is now trading in the gap price range created in late April.
The lower PPO indicator shows the green PPO line above the purple signal line with both lines rising which indicates a short-term bullish trend. Both lines trending above the 0 level indicates an intermediate to long-term bullish trend.
The TDI indicator shows the green RSI line above its purple signal line and above the 60 level which indicates short-term bullish momentum. The RSI line is also above its upper white Bollinger Band which indicates extreme bullish price trend; you want to stay long when the RSI is trading above this upper band, and remain cautious when it falls back below the upper band as that usually signals bullish exhaustion in the short-term.
My entry price on ACCD was $13.98.
My stop-loss is currently at $10.93(SL1), but SL2($13.20) can be used for more conservative trades and is where I'll likely move my stop sometime this week.
I'm looking to take profit near the upper gap line around the $16 level.
Should price break higher than the gap level I'll likely remain in the trade and raise my stop-loss accordingly.
The lower PPO indicator shows the green PPO line above the purple signal line with both lines rising which indicates a short-term bullish trend. Both lines trending above the 0 level indicates an intermediate to long-term bullish trend.
The TDI indicator shows the green RSI line above its purple signal line and above the 60 level which indicates short-term bullish momentum. The RSI line is also above its upper white Bollinger Band which indicates extreme bullish price trend; you want to stay long when the RSI is trading above this upper band, and remain cautious when it falls back below the upper band as that usually signals bullish exhaustion in the short-term.
My entry price on ACCD was $13.98.
My stop-loss is currently at $10.93(SL1), but SL2($13.20) can be used for more conservative trades and is where I'll likely move my stop sometime this week.
I'm looking to take profit near the upper gap line around the $16 level.
Should price break higher than the gap level I'll likely remain in the trade and raise my stop-loss accordingly.
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