- Strong support at $16.45.
- After passing $16.45 support with a 3-4 day confirmation A long position should be taken.
- Next lowest support is at $15.00, and the average true range (ATR, 14) shows a $0.50 variation in price.
- Initial Stop Loss at $14.50, taking into account the lower support and the ATR value.
Summary of Setup:
Entry: $16.45
Stop Loss: $14.50
Possible Selling Points:
- $23.50 with a gain of ~%43
- $24.85 with a gain of ~%50
- $26.65 with a gain of ~%60