CVS long following bottoming out, monthly bullish divergence
CVS has formed a descending triangle and daily appears to be closing above the upper triangle (break out). We have a monthly bull div on the RSI. A forming daily wedge will provide good stop for our trade. R:R lies in longing at break out confirmation.
עסקה פעילה:
Entry @ 65.985 friday
הערה:
we touched down on dynlevel (70.05) and daily volume profile node (70.05), failed to make the higher high (71.07). TP could have been set lower but I wanted to put my stop loss at the daily wedge so I stand by my original TP level and we will just have to wait and see how this plays out.
הערה:
Moved up past the only major resistance before our take profit. Very satisfied with that. Sell order placed @ 79.02
הערה:
weak bear div on the daily rsi here but not at a major resistance level and the bear div is not clear. Not worth TP early.
הערה:
We are now at support: throwback and daily volume profile. Seeing a move up here would be very good sign. Coming off a rsi bear div from 6/21 an early TP would be best at 71.20 (top of daily volume profile node), but have not decided if we want to TP early yet.
הערה:
8% gap down on open today following news that Amazon (Whole Foods) entering the online pharmacy market.
הערה:
We got a bit of a touch down on the downward trend and a big gap left so our trade still looks good to hold even though we are in the red. Never great when bad news comes out against your technical trade :p
הערה:
In retrospect daily bear div could have been a great place to close this trade