Double Bottom on SentinelOne (S)

In my analysis, SentinelOne (S) presents a compelling buying opportunity at the moment. The RSI divergence, coupled with the price aligning with the trendline (200 EMA) and support level, indicates a favorable setup.

Additionally, the formation of a double bottom suggests that buyers have regained control. Reflecting on the market since May 2022, we observe a potential reverse head and shoulders formation, with the attainment of the $30.75 price target potentially completing the right shoulder.

I've chosen to take a long position on the stock, implementing an 8% stop loss and targeting a 36% increase, yielding a risk-to-reward ratio of 4.5.

I plan to reassess once the price target is achieved, as I'm interested in observing whether the stock can break resistance and establish the reverse head and shoulders formation.