Analysis for educational purposes only. I am not a registered analyst.
First part contains a hindsight analysis Second part contains info on a possible re-entry if ATH is retested.
- In the weeklychart, we see a breakout of HH - HH is retested which is an ideal entry point. - Set SL as previous low or in cases where there are other lows close by, choose the lowest one. - Calculate the possible loss assuming the stock hits SL - If you are OK with the calculated loss, enter OR wait for a suitable entry. - Trail the SL at every new Higher Low. - Wait for breakdown of a Higher Low OR Target