Possible wave trade
I follow a long term trend analysis based on a tutorial published by TradeWithParas, so naturally I suggest you refer to his idea for a longer term swing. But inside this analysis there should be some wave to wave trades.
Currently I see consolidation between the 50 and 200 moving avgs, a break of the 200 could get pushed to the 34.50 area. As a stop, don't let it get too far away from the 50. If it plays nice, that could be 80 cents or more profit, 12 cents risk roughly at current price.
If it hits 34.50 and bounces down, that would be creating an upside down head and shoulders.
Currently I see consolidation between the 50 and 200 moving avgs, a break of the 200 could get pushed to the 34.50 area. As a stop, don't let it get too far away from the 50. If it plays nice, that could be 80 cents or more profit, 12 cents risk roughly at current price.
If it hits 34.50 and bounces down, that would be creating an upside down head and shoulders.
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