VIRT - Possible flag or breakout Momentum trade from $18.57

٢٦ يناير ٢٠١٧

VIRT seems breaking out its long term resistance forming a flag formation. On the weekly frame it seems breaking out of a downward channel. It has strong insider buying, Strong Moneyflow on weekly chart and above all moving averages supporting this Long trade.


* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Flag formation, Breakout of Long-term resistance.
Entry Target Criteria- Break of $18.57
Exit Target Criteria- Momentum trade
Stop Loss Criteria- $16.87

(Note: Trade update is delayed here.)

١ فبراير ٢٠١٧

ملاحظة

January 27th- Flag did not breakout yet, and did not hit entry criteria. Waiting for Flag breakout.

١٣ فبراير ٢٠١٧

ملاحظة

February 8th- Showing some upward momentum, and made a higher high today. Looking good as long. Updating stoploss to $17.57
February 3rd- Went up & hit entry price today. Wait & see for now.
February 2nd- Seems the flag is broken out with Nice 3.66% upward move, but yet to hit entry. Reporting earnings after market today, watching it closely.