540 levels have acted as good level of support which acted as resistance and now again as support.
Stock has taken support and seems ready to test all time high levels.
20 week SMA is also acting as support. Reward to risk ratio is working out favorable at 2.5.
With SL of about 7.5% position size should be controlled. Also this being weekly trade it can take 2 ~ 3 months to play out.
Stock has taken support and seems ready to test all time high levels.
20 week SMA is also acting as support. Reward to risk ratio is working out favorable at 2.5.
With SL of about 7.5% position size should be controlled. Also this being weekly trade it can take 2 ~ 3 months to play out.
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Related publications
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.