12.03.2024 / INDI

Fundamentals. Premarket down 20% after news of $175 million private offering of convertible senior notes.

Technical analysis.
Daily Chart. Daily level 4.00 formed by a break in the trend on the daily chart on 11.18.24 is ahead.
Premarket. High premarket volume. Gap Down.
Trading session. Intraday level 4.40 was formed in the first hour of the session and the price was tightened to the level. After breakout of 4.40 at 11:44 a.m. there was no significant impulse in the direction of the breakout and the price quickly returned and consolidated below 4.40. We are considering a short deal.

Trading scenario: false breakout with retest (false tighten with retest) of level 4.40

Entry: 4.37 after second touch and pure level holding

Stop: 4.42 above the high of consolidation

Exit: There is a pure trend movement in the direction of the trade. You can close part of the position before the low of the day 4.10, and hold the rest until the close of the session or close this trade in parts (for example, part of the position RR 1/3, another part RR 1/5, etc.) in accordance with your trading system.

Risk Reward: 1/7
Multiple Time Frame AnalysisstockofthedaySupport and Resistance

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