The stock has been moving since the beginning of 2016 in a huge triangle formation.
I think the time is getting closer for a breakout and some dynamical price movements.
I suppose in the coming week there will be earning results, keep them on the radar, if the price reacts to this earnings, this can be a catalyst for higher prices and breakouts.
190$ is important but 200$ is a very crucial and psychological important level, above it i would become really bullish. Entries below it are a little riskier, but have a better risk reward.
I would prefer to place my stop below 176$ thats where the 200DMA currently is, below it bigger falls are possible.
Blessings to you all.
I think the time is getting closer for a breakout and some dynamical price movements.
I suppose in the coming week there will be earning results, keep them on the radar, if the price reacts to this earnings, this can be a catalyst for higher prices and breakouts.
190$ is important but 200$ is a very crucial and psychological important level, above it i would become really bullish. Entries below it are a little riskier, but have a better risk reward.
I would prefer to place my stop below 176$ thats where the 200DMA currently is, below it bigger falls are possible.
Blessings to you all.
Komen:
This worked out perfectly.
