SNPS Trading Plan: Anticipating a Break Above SMA 150 at 535.73

SNPS
Currently, the price of SNPS is 520.70, which is slightly below the 150 SMA (527.81). The suggested entry point is 535.73, positioned above the SMA 150 to confirm a potential upward trend.

Entry Strategy:

Wait for the price to break above 535.73 to signal confirmation of strength and momentum.

Verify that the SMA 150 remains in an upward trend or shows signs of reversing upward.


Stop Loss:

Set the stop loss at 519.9, just below the SMA 150, to protect against significant downside.


Target:

Identify potential resistance levels above 535.73 to define profit-taking zones.


Alerts:

Place an alert on TradingView at 535.73 to get notified when the price breaks the entry point.


Note:
This plan also aims to identify a potential upward reversal in the trend of the SMA 150, ensuring the stock aligns with a strong bullish movement.