CoreWeave has been a challenging trade for me, and I have had several unsuccessful attempts in the past. Even so, I still find the broader theme compelling.
Technical Setup
Although I consider fundamentals, I rely primarily on chart patterns to identify trade entries. At the moment, the chart appears to be forming a cup with handle pattern, which can offer a favorable setup once confirmed.
Several additional technical factors support the setup:
• Price is holding above the rising 50-day moving average (50 DMA, shown in red).
• Price remains above the lows established in December and March.
• In addition to the cup with handle, the chart also shows a possible double bottom ("W") formation.
• Price is currently trading near the upper region of that double bottom structure.
Trade Plan
I have set an alert at the upper downtrend line of the cup with handle. If that alert is triggered, I will consider taking a half-sized position, with a stop based on a close below the 50 DMA.
Risk Note
If you find this idea useful, make sure to adapt it to your own trading or investing plan. Ultimately, it is your capital at risk.
Technical Setup
Although I consider fundamentals, I rely primarily on chart patterns to identify trade entries. At the moment, the chart appears to be forming a cup with handle pattern, which can offer a favorable setup once confirmed.
Several additional technical factors support the setup:
• Price is holding above the rising 50-day moving average (50 DMA, shown in red).
• Price remains above the lows established in December and March.
• In addition to the cup with handle, the chart also shows a possible double bottom ("W") formation.
• Price is currently trading near the upper region of that double bottom structure.
Trade Plan
I have set an alert at the upper downtrend line of the cup with handle. If that alert is triggered, I will consider taking a half-sized position, with a stop based on a close below the 50 DMA.
Risk Note
If you find this idea useful, make sure to adapt it to your own trading or investing plan. Ultimately, it is your capital at risk.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
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.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
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.