I am bullish on CRNC on the basis of a cup and handle formation that offers an attractive risk/reward. The cup and handle is a bit "broken" only because of a gap-up due to CRNC being added to an index. We have now closed that gap at $109 and it appears that the bullish move is ready to continue. I am eyeing two targets for this trade at the 0.786 fib line and near the previous ATH of $139 where it would likely face resistance.
Other considerations:
1. This move is dependent on growth stocks, so if Treasury yields rebound and it forces a risk-off market, this trade will likely fail.
2. Earnings are coming up and as we can see, CRNC is volatile, so expect a sharp move following the report.
TP1: ~$126 (+16%)
TP2: ~$137 (+25%)
Published trade statistics:
Win Percentage: 6/8= 75%
Avg Gain on Wins: 12%
Avg Loss on Losses: -13%
Weighted Avg P/L % : 5.98%
Pending Trades (including this post): 3
- Sultan of Chart
*This is not financial advice*
Other considerations:
1. This move is dependent on growth stocks, so if Treasury yields rebound and it forces a risk-off market, this trade will likely fail.
2. Earnings are coming up and as we can see, CRNC is volatile, so expect a sharp move following the report.
TP1: ~$126 (+16%)
TP2: ~$137 (+25%)
Published trade statistics:
Win Percentage: 6/8= 75%
Avg Gain on Wins: 12%
Avg Loss on Losses: -13%
Weighted Avg P/L % : 5.98%
Pending Trades (including this post): 3
- Sultan of Chart
*This is not financial advice*
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.
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.