URA atl reversal play

26 de ago. de 2020

Trading on the D/W
On the weekly:
-major support has been $10-12 since early 2016
-in july 2019 price broke down from this range(covid market crash), and solidified 11.50 as major res
-has since broken above 11.50(also the 100w), the retest held, and carried higher
On the daily:
- jul 15 2019, price breaks above r11.50, and all MAs (50,100,200,400)
-MAs are converging on one another for strong support

Entry: 11.99 Market open 08/26/2020
Stop loss: 10.88---below all major res/ma on week/day
TP1: 14.20---sell 50%---URA tends to have short fakeouts above weekly MAs, 14.20 would be slightly above 200w ---move SL to BE or below relevent key levels
TP2:15.40--- sell the rest unless stock still has good techs--- 16 is a key res
TP3: moon, will move SL to appropriate levels as stock moves higher