FCEL broker up from base formation resistence @ 7.86 today on very strong volume.
At the time of writing it has already shot up to 8.60. Do not take this aggressive late entry if you cannot withstand an 80 cts initial stop loss several ticks below 7.86 (which is abt 9% possible loss if wrong).
There is a possible chance that such breakups could retest near the breakup level @ 7.86 again (which should become resistence turned support) in the near future. Should that happen, it could be the opportunity for conservative traders to jump on board during this retest.
Inital target is around 11.27 (gap fill here) to 12.00. Trail stops up as it could consolidate a little at each targets before resuming the trend to the next few targets (fibonacci retracement levels).
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
At the time of writing it has already shot up to 8.60. Do not take this aggressive late entry if you cannot withstand an 80 cts initial stop loss several ticks below 7.86 (which is abt 9% possible loss if wrong).
There is a possible chance that such breakups could retest near the breakup level @ 7.86 again (which should become resistence turned support) in the near future. Should that happen, it could be the opportunity for conservative traders to jump on board during this retest.
Inital target is around 11.27 (gap fill here) to 12.00. Trail stops up as it could consolidate a little at each targets before resuming the trend to the next few targets (fibonacci retracement levels).
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade