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It form a correction wave ABC right after the IPO released, the bottom of the price was formed and demonstrated 2 weeks long consolidation( 2 days public holiday), finally it was break away on last Friday with a long white candle.
This trading set up is very difference compare to the past I did, which is Breakout trade vs Retracement. As you can see the rectangle box I drew out is representing a consolidation, the big white candle is break away from 0.615-0.620 resistance, which is confirm reversal up.
Now the resistance become support and I will buy when it close to the new support which is 0.625-0.630
My trade plan
My trade plan
I buy now 0.625- 0.630
1st TP : 0.695 - 0.715
2nd TP: 0.755 - 0.765
SL candles close below 0.595
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Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation
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