SAIL - bullish trade
Technical analysis -
1. Stock and complete sector was in a long term down trend, Metals are cyclic.
2. Stock was making continuous lower low and lower high.
3. First time stock made a higher high after 11 years.
4. Stock recently made a bullish flag and pennant pattern.
4. Technically all is well until stock closes below 100, which is the last swing high
Trade set up -
1. Short term -
Go long,
for a target of 150 and 190,
Stop loss - closing below 126
2. Medium/Long term -
Go long,
for a target of 150 and 190,
Stop loss - closing below 100
* I have same targets for both trading setups, only difference is in Stop loss.
* I already purchased this stock yesterday being an aggressive investor.
1. Stock and complete sector was in a long term down trend, Metals are cyclic.
2. Stock was making continuous lower low and lower high.
3. First time stock made a higher high after 11 years.
4. Stock recently made a bullish flag and pennant pattern.
4. Technically all is well until stock closes below 100, which is the last swing high
Trade set up -
1. Short term -
Go long,
for a target of 150 and 190,
Stop loss - closing below 126
2. Medium/Long term -
Go long,
for a target of 150 and 190,
Stop loss - closing below 100
* I have same targets for both trading setups, only difference is in Stop loss.
* I already purchased this stock yesterday being an aggressive investor.
Aviso legal
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