This chart is up against ATH and MAJOR Overhead Resistance lines extending back to 1996. This stock has been overbought for quite some time and has continued to move higher while markets have traded generally lower. I fully expect this one to play catch up soon.
Notice the large Yellow Parallel Trend Channel that price broke out of in March 2022. Price has gone nearly Parabolic since then and is losing steam as it hits overhead resistance. Although not shown here the Price is outside of the Bollinger Bands for >5 MONTHS now indicating that price is > 2 STD away from the mean average MONTHLY Price. This is a Reversion to the MEAN counter trend trade with the 1st Target Price the broken Resistance now acting as support. 2nd Target Price would be the Monthly EMA 39.
SHORT Entry = $112.46. SL is confirmation close > $116.78. Target # 1 = $77.64. Target # 2 = $60.43. This is a 8.5:1 Reward:Risk ratio to the 1st Target. Even greater to the 2nd Target.
Trade has a >85% Probability of turning out EXACTLY as described!! See my prior posts on similar setups in AMD and SPX.
تم فتح الصفقة
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CRUSHING the markets... 8% flush down today. Expect $77.64 Target Price before end of year.
With this setup I RISK up to 2.5% of my Capital on this trade because of the >85% Probability of success and VERY HIGH Reward:Risk ratio.
So on an assumed 100K account I would RISK $2500. Entry price = $112.46, SL = $116.78. So that is 116.78-112.46 = $4.32 PER SHARE LOSS if SL hit. That means Assuming I am RISKING $2500. That I can SHORT $2500/$4.32 = 578 SHARES.!!!
With 578 Shares * $112.46 Entry Price = $65,000 in the trade!!.
How would you like to RISK 2.5% loss with 65% of your entire Trading Capital on a Trade that has an 8.5:1 Reward:Risk AND >85% Probability of reaching Target Price?? I Take this setup EVERY SINGLE TIME I see it!!
This one was a no brainer!!
Trade what you see!
تم فتح الصفقة
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Back down 14.5% in about 1 week. now under $100. Heading toward $77 before end of year.
تم فتح الصفقة
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Still on Target for $77 before end of year and likely 2nd Target Price of $60.
Down > 20% since this trade was posted. I am expecting a bounce in this higher over next few days to week or 2 but then fully expect it drop toward $77.
تم فتح الصفقة
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Since this post on Sept 1, 2022 we are more than half way to the target price of $77.
Price just broke down from TL Support and has closed today below yesterdays low after retest of broken support as resist. $77 here we come. Target #2 pf $60 is also likely before end of year.
Trade what you see
أغلقت الصفقة: تم الوصول للهدف
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Target Reached on this trade this week. Trade closed at $77
Target Price of $77 reached today. Trade Closed. Thank you for playing.
blissfulRider36712
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thanks for sharing your nice views, agree with you.
xsf62rh8pj
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Looks like it’s on its way down
eganon69
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@xsf62rh8pj, Yes. Down 14.5% in about 1 week while stock market is down a fraction of that in the same time. I am fully expecting $77 before end of year.
KetilJohan
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Dont short the best company in the whole world stupid american hehe
eganon69
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@KetilJohan, I have been told that before and been victorious 100% of the time. When I am being called names and ridiculed it means there are NO NEW Buyers and the stock is going down. See you at $77.
eganon69
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@KetilJohan, Not bad for a "stupid American". I fully expect target of $77 soon and likely $60 before end of year.
eganon69
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Target Price reached today. thank you for playing. This stupid American just schooled you on trading.
toregee
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@eganon69, ahahah awesome thread. Great setup & Trade!
eganon69
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You are Welcome. This is one of the best setups I trade. with patience you will see I am correct. $77 here we come