I. Analysis
1. Stock has been making a series of HL, and leaning against the drawn resistance level
2. Price should have bounced back steeper after consecutive tests of the resistance area, but instead, buying pressure is stepping in at consistently higher levels.
The above signals that a probable strong breakout is approaching.
Just a as sidenote, this has set up has been highly lucrative over the past weeks with examples such as SU, KMI, CCL, CNK, DELL, FANG, INFO, KSS, KMI, RCL, SEIC, SLB, V, WYNN to name a few.
II. Trade
1. Conservatively wait for a breakout or wait for a breakout and pullback // aggressively enter next candle
2. TP next selling pressure level/swing high
3. SL 1 ATR below low of the build up
Plsd to hear yr comments
1. Stock has been making a series of HL, and leaning against the drawn resistance level
2. Price should have bounced back steeper after consecutive tests of the resistance area, but instead, buying pressure is stepping in at consistently higher levels.
The above signals that a probable strong breakout is approaching.
Just a as sidenote, this has set up has been highly lucrative over the past weeks with examples such as SU, KMI, CCL, CNK, DELL, FANG, INFO, KSS, KMI, RCL, SEIC, SLB, V, WYNN to name a few.
II. Trade
1. Conservatively wait for a breakout or wait for a breakout and pullback // aggressively enter next candle
2. TP next selling pressure level/swing high
3. SL 1 ATR below low of the build up
Plsd to hear yr comments