Potential outside week and bearish potential for S32

Entry conditions:
(i) lower share price for below the level of the potential outside week noted on 19th June (i.e.: below the level of $4.10).

Stop loss for the trade would be:
(i) above the high of the outside week on 15th June (i.e.: above $4.63), should the trade activate.

การซื้อขายยังคงดำเนินอยู่

UPDATE (week ending 03-Jul): Trade activated towards the end of last week (24th June), with a test of short-term moving averages and previous support/resistance line of $4.10 (from the open of 30th March) occurring over the past trading week. Aggressive traders / investors may wish to consider improving protective stops to an area just above the 100 day moving average (currently $4.36), just in case of a sudden rise in share price (considering the sudden increase in RSI over the past week).

บันทึก

UPDATE (week ending 10-Jul): Share price respected 150 day moving average as well as short-term moving averages (8 and 15 day EMAs) to the downside throughout the trading week, with the share price testing the 200 day moving average towards the end of the trading week. Considering the respect of the yearly VWAP which occurred recently, it appears prudent to consider improving protective stops to an area slightly above the yearly VWAP (which is currently $4.30).

บันทึก

UPDATE (week ending 17-Jul): Now that the trade has settled into a series of lower highs and lower lows, with the share price respecting a declining quarterly VWAP and declining short-term moving averages (8 and 15 day EMA's), traders and investors can consider improving protective stops to a level slightly above the respected resistance line from 30th March (i.e.: the open of $4.10).

ปิดการเทรด ด้วยตนเอง

UPDATE (week ending 24-Jul): Earnings announced on 20th July, and since this is always a coin-toss, suggestion is treat this as an exit stop regardless for risk management purposes. In this case, exit the trade for a scratch and look for the next trade, not a problem.

Ivory_Wolf

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