Fundamentals. Positive news background in the semiconductor chip manufacturing sector.
Technical analysis. Daily chart: Exit upwards from a wide range with the upper limit of 79.36, formed on October 25, 2024 and confirmed by several touches of the level. Premarket: Gap Up on moderate volume. Trading session: The price formed a tightening to the level 79.36 after the opening of the session. We consider a long trade to continue the upward movement when the tightening is formed along the trend.
Trading scenario: breakout (tightening) of the level 79.36
Entry: 79.67 after the breakout and retest. A more conservative entry is possible at the exit upwards from the trade range above the level.
Stop: 79.31, we hide it below the level 79.36.
Exit: Close part of the position at 82.15 when a trading range forms under the level of 82.50 and an unsuccessful attempt to break through it. Close the remaining part of the position at a price of 81.79 when the structure of the uptrend is broken.
Risk Rewards: 1/6
P.S. In order to understand the idea of the Stock Of The Day analysis, please read the following information.
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