Elli Mae presents an interesting opportunity: to time a Long entry with limited risk and with a very high probability of the upward advance resuming now.
Market timing opportunities are rare and exciting. The purpose is to get on board the next move with a close by stop loss, limiting risk in comparison to greater potential rewards ahead. The best trading setups give us a high degree of confidence in the likelihood that the market will advance in the direction we anticipate. There is confluence for this stock to move upward from here, with a good risk:reward ratio as shown visually on the chart.
Market timing opportunities are rare and exciting. The purpose is to get on board the next move with a close by stop loss, limiting risk in comparison to greater potential rewards ahead. The best trading setups give us a high degree of confidence in the likelihood that the market will advance in the direction we anticipate. There is confluence for this stock to move upward from here, with a good risk:reward ratio as shown visually on the chart.