CRNT hit the textbook 50% fib retracement buy zone. Because it is a pretty volatile stock, I like to use the 78.6% retracement as the stop loss to give the trade more room to be right. That would mean putting on a smaller position to take on the added risk from a wider stop.
NOTE: Earnings are soon, so be careful if you are going to take this setup
- Stock is at 50% retracement support area
- 20 day EMA could act as support
- On the monthly chart, the 200 month SMA has acted as a large resistance zone, so that is one bearish factor to be aware of. If the stock can get above that and close above it, that would be extremely bullish for a larger continuation of this reversal.
Trade
- Buy around $4.50
- PT1: $7.50
- PT2: $8.50
Stop loss: $2.99
NOTE: Earnings are soon, so be careful if you are going to take this setup
- Stock is at 50% retracement support area
- 20 day EMA could act as support
- On the monthly chart, the 200 month SMA has acted as a large resistance zone, so that is one bearish factor to be aware of. If the stock can get above that and close above it, that would be extremely bullish for a larger continuation of this reversal.
Trade
- Buy around $4.50
- PT1: $7.50
- PT2: $8.50
Stop loss: $2.99
Dagangan ditutup: hentian tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.