BE:Price pullback to its buy zone that aligns with the 61.8% retracement level. I had missed the triple bottom, and decided to enter early into the market. There is also a well formed consolidation (horizontal channel ) around the 61.8% retracement. My assumption is that this industry is a good sector that would probably be trending higher in the coming years.
S/L is placed blow the lows of the whole pullback. Could be relatively tight. But would be a good sign to enter at a better price if it does get hit.
T/P is placed at the 1.618% Fib extension level. Considering the severity of the climate change effects in recent weeks, there could be a good push for green energy alternatives that may push prices higher for this stock.
(This stock was entered with the view that green energy alternatives would be taken seriously by countries and that markets are undervaluing the potential of these companies for future environmental sustainability).
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