Another great example of bottom fishing that i want to share as a follow up to previous post.
After hitting $100 on 270514, the stock dropped to 8 cents trapped under bearish technicals till the breakout in 2017 and more significantly recently on 130120 at $1.00 targeting $8.09.
Current short term bullish with a 4hr long at $2.24 and daily long at $2.48 on 010221.
PIVOT $2.48
Long Positions above $2,48 target $8.09
Short positions below $2.48 target $1.38
NOTE : When you take on trades like this, the downside is limited and the upside is unlimited. However, ALWAYS have a STOP LOSS and more importantly, your PROFIT TARGET. Ask yourself whether this is a swing trade to $8.09 or $109. Do not hesitate to take profits when your target is reached. Adjust your stop losses on the timeframe base on your trade duration. i.e. 4hr/daily ST line stop for swing trades, daily/weekly ST line for long term holdings.
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