Here you are, COST cypher
COST is still under huge selling pressure after another downgrade by BMO on Monday, and as I wrote last week, I've waited quite a while for a good entry for the company.
Although I didn't really trade it,last week the BAT pattern failed as it gave such a small room for the stock to run.
While when the X @ 156.59 broke, it did give good short continuation to make it a great stop loss point.
And all of a sudden, here comes the cypher, a much better X point than the BAT last time.
This Cypher pattern suggest a 150.90 entry and a 141.99 out, about 6% risk. As it's being slumped so hard, I still won't just put my buy limit @ 150.90 to fight with the recent downtrend;
while if there is any potential reversal or retracement sign like hammer or inside day breakout formed here, I'm willing to give it a shot!
I do think that will be a very risky trade according to how the market slumped COST stock, while at least I think it worth the risk.
Although I didn't really trade it,last week the BAT pattern failed as it gave such a small room for the stock to run.
While when the X @ 156.59 broke, it did give good short continuation to make it a great stop loss point.
And all of a sudden, here comes the cypher, a much better X point than the BAT last time.
This Cypher pattern suggest a 150.90 entry and a 141.99 out, about 6% risk. As it's being slumped so hard, I still won't just put my buy limit @ 150.90 to fight with the recent downtrend;
while if there is any potential reversal or retracement sign like hammer or inside day breakout formed here, I'm willing to give it a shot!
I do think that will be a very risky trade according to how the market slumped COST stock, while at least I think it worth the risk.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.