ARM: Pull-back before next leg-up

I fundamentally bullish on this company and think it might be a potential true-market leader in next market up-trend (if we see one in coming years).

Structurally speaking, I may see full first impulsive structure completed with today's burst into the top border resistance zone for the final wave (c.v of 1).

If this structure will prove to be correct, classical support area for potential correction: 61-55 area.

If price follows through to the upside and closes above todays highs, then next resistance level is: 75-81 zone. Moving above 81 will be a sign to re-consider suggested price structure.

Thank you for your attention!

노트

Entered short trade with the break under left-side pick on volume pick-up.
Average cost: 69.03

Will consider to add to shorts if price breaks 8 and latter 21 ema on volume.

Risk for the trade: 3-5%

거래청산: 스탑 닿음

ARM went above 3 and then 5%, trading above Wednesday highs. I am stepping aside with less than 4% average to see how situation evolves.

If price pulls back and breaks 8 ema on volume in coming sessions, I may consider re-shorting it as per initial scenario.

액티브 트레이드

Shorting at break of 8/21 and left-side peak with stop at LOD

노트

Adding to shorts with stops for add-on at HOD

거래청산: 스탑 닿음

Got stopped out with 4% loss on gap-up open 18th of Jan. Strong demand in semiconductor sector.

Was not able to quickly shift to buyable gap-up as 360d-approach to market, although all the parameters were there.

Structurally speaking, I can interpret this move as a running flat formation, where price got a little ahead of itself with overwhelming demand and still needs to correct before the bullish third wave unfolds its full potential later this year.

Until price closes bellow 80, the correction to 66-61 support zone is still possibility.

From tactical trading perspective, If one is inclined to try to short ARTM, the move bellow left-side pick at 78.66 could be considered an entry point with 2-3% stop.

Strong move above 80, would shift my interpretation of the structure to wave 2 being finished and price already is its third wave uptrend.

액티브 트레이드

Started building initial short position around recent left-side pick as per suggested structural interpretation

Stops are above 80 on close.

노트

21 ema break-down attempt could be considered as an addition (no more than 30% of current position) to shorts from 25.01.

! Caution: earnings tomorrow !

Macro-support zone: 66.20-61.5 and 58.3-55.20

노트

With earnings move on 8th of Feb., price has decisively put waves 1-2 in place as per the operative interpretation of the structure.

Until price holds and closes above 96 (0.618% of wave 1 from 2), the structure calls for continuation move towards next macro-resistance zone: 143-162, with following support area for any consolidation/correction at: 117-103 with follow-up move towards 175-200 area as the major resistance zone for the impulsive structure from Oct'23 lows.

BelFed_Analytics

Swing-trading ideas, market analytics & asset requests
Keeping all closed trades public: belfed.com/equities-trades.html

14-day free trial (no card): t.me/BelfedBot
Free 🇺🇸 t.me/BelFedFreeEN | 🇷🇺 t.me/BelFedFreeRU

또한 다음에서도:

면책사항

해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.

BelFed_Analytics

또한 다음에서도: