ALMS shot up from about 13 to 28 (the pole), then drifted sideways-down in a small channel (the flag). Price has now pushed above that flag and is testing its all-time high near 30.64. This is a classic flag breakout — often a sign the uptrend continues.
Plan — buy in two parts:
Buy 1 (50%): now, around 28.65
Buy 2 (other 50%): only after a weekly close above the all-time high, around 30.65
Stop loss: below 25.60 (if it drops back into the flag, I'm out)
Why two parts: the first buy gets me in on the breakout. The second buy waits for the all-time high to actually break on a weekly close, so you don't get faked out at resistance.
Get out of trade if it closes back below 25.60 on the weekly.
Plan — buy in two parts:
Buy 1 (50%): now, around 28.65
Buy 2 (other 50%): only after a weekly close above the all-time high, around 30.65
Stop loss: below 25.60 (if it drops back into the flag, I'm out)
Why two parts: the first buy gets me in on the breakout. The second buy waits for the all-time high to actually break on a weekly close, so you don't get faked out at resistance.
Get out of trade if it closes back below 25.60 on the weekly.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.