Bullish potential detected for WOW

4 Mei

Entry conditions:
(i) higher share price for WOW along with swing up of indicators such as DMI/RSI, and
(ii) observation of market reaction at the resistance level / volume profile area at $32.32 after closing above 200 day MA.

Stop loss for the trade would be, dependent on risk tolerance:
(i) a close below the 200 day moving average (currently $31.63), or
(ii) a close below the 50 day moving average (currently $30.17).

4 Mei

Dagangan aktif

UPDATE (week ending 02-May): Trade activated on 2nd May with a trading day that successfully tested the volume profile area of $32.32 with a good response of the DMI/ADX and RSI indicators. The share price closed above both 10 and 30 day MA's at the end of the trading week.

10 Mei

Nota

UPDATE (week ending 09-May): Share price action further tested the volume profile area of $32.32 during the week before proceeding higher towards the end of the week and once again closing above both 10 and 30 day MA's. Depending on risk tolerance, the charts suggest to consider raising the profitable stop to a point beneath prior resistance areas of note, keeping in mind that only the first has been tested from the upside thus far - (i) $32.32 volume profile area, and (ii) $32.71 from the open of 5th May. Trade now considered a 'further bullish potential' trade.

16 Mei

Dagangan ditutup: hentian tercapai

UPDATE (week ending 16-May): Profitable stops discussed in last week's note were triggered during the trading week - congratulations on a decent trade!