Idea Body:
NTAP has given a major long-term breakout from a 25-year cup and handle pattern. The stock is currently retesting the breakout zone, which makes the current level a potential entry area from a risk-reward perspective.
Trade Plan:
Consider entering 50% position at current levels.
Stop Loss:
For the first 50% position, stop loss can be kept below 148 on a daily closing basis. A daily close below this level would weaken the breakout structure.
Add-on Entry:
The remaining 50% position can be added above 193, once the stock confirms further strength and resumes the breakout move.
Risk Management:
After the breakout sustains, a trailing stop loss can be used to protect gains and ride the long-term trend.
View:
As long as NTAP holds above the key breakout/retest zone, the structure remains positive. The current retest provides a good opportunity for staggered accumulation with defined risk.
NTAP has given a major long-term breakout from a 25-year cup and handle pattern. The stock is currently retesting the breakout zone, which makes the current level a potential entry area from a risk-reward perspective.
Trade Plan:
Consider entering 50% position at current levels.
Stop Loss:
For the first 50% position, stop loss can be kept below 148 on a daily closing basis. A daily close below this level would weaken the breakout structure.
Add-on Entry:
The remaining 50% position can be added above 193, once the stock confirms further strength and resumes the breakout move.
Risk Management:
After the breakout sustains, a trailing stop loss can be used to protect gains and ride the long-term trend.
View:
As long as NTAP holds above the key breakout/retest zone, the structure remains positive. The current retest provides a good opportunity for staggered accumulation with defined risk.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.