SVRA Swing trade idea

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SVRA Swing trade Idea :
Entry :$1.62
Stop :$1.56
PT :$1.92
R/R-1/5
Possible PT date -May 13th
P.S. For entreatment purposes only ,not financial advice .

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ملاحظة

Why: SVRA is currently located at the bottom of the demand zone, for the past 3 month it rejected to the upside from that zone 5 times.
Risk :
1) Current market condition
2) Up coming earnings
3) Relatively tight stop loss

Price target level:
SVRA has higher probability to hit that price level ($1.92) and slightly lower probability of hitting $2.03 level, by setting the price at $1.92 I have a higher chance to sell it.

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ملاحظة

SVRA moved down to $1.61 , Entry level is reached,SVRA closed the day at $1.63

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ملاحظة

Stop loss triggered .Position closed.

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ملاحظة

Possible issue with this game plan -tight stop loss -3.7% ,5% stop loss probably would be a better choice.

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ملاحظة

2nd Attempt based on CCI strategy :
Bullish crossover on 4h CCI
RSI pointing north bouncing from OVERSOLD area
MACD looks somewhat bullish but not convincing on 4h time frame
As I mentioned before ~$1.60 area is the area from witch SVRA bounced to the upside 5 times for the past 3 month
Game plan :
Entry - $1.60
Stop - mental ,at around $1.57
Exit - $1.92
R/R ~ 1/5
Possible date to reach the target May 13th (based on the price/time action from the past)

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ملاحظة

Not financial advice.

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ملاحظة

8h Chart -purple line indicates CCI bullish crossover

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ملاحظة

Cancelled my order before it got filled ,bought 1/16th of what was planned .
SVRA-Moved down to $1.54 area (the entire market is in red)