Just quick notes on what I'm seeing on my limited watchlist. I had a bunch of others on there, but I really didn't like their setups anymore, so I removed them for now.
TLR
This one has a flag/pennant forming which can be seen as a continuation pattern on this guy. The overall trend is up, so continuation should mean this guy breaks out of it soon. If the flag pattern doesn't have any forbearance, I'm also seeing support at around $1.05, right below 50ma. I was very tempted today at purchasing at $1.09 which would have been one tick off the low, but the lower band of the flag is about $1.00, so I would have been looking at a 10% downside for my stop - too much risk with realistic upside at mini-resistance of $1.28, but the descending trendline of the flag much closer. I put an order in for $1.05 today, and obviously didn't get filled. Hopefully, we can get an order in the next few days or it gives us a nice drop to that bottom trendline.
URZ
This one requires a little more zoomed out picture to see the $1.71ish support. Its been used quite a bit to bounce off of a while ago, failed to hold, and then eventually broke back through, re-tested, and is now making a second retest. Added bonus is 50ma crossing 200ma, and both are meeting up right above that $1.71 support. I'm looking for an entry in the mid $1.70s, this looks to provide huge risk-to-reward ratio with upper resistance at $2.28ish its almost a 8:1 advantage. Actually now doing the math on this, I am mad I didn't even try to get filled today, I could have upticked to $1.77/$1.78 all morning and filled easily... hopefully I don't miss out on this.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment