Tuesday, February 11, 2020
FRTA and LTHM
Like this setup. It's pulling back from a nice burst of momentum and i'm betting on a bounce at this point. The 30 minute chart seems to show slowing downward momentum and there seems to be a nice risk/reward opportunity in the 30 minute time frame. On the 10 minute time frame I am long when it trades above the horizontal line, which could get the stock trending again even if for a while.
FRTA has the same setup with the added bonus of a "double bottom" both on the 30 minute timeframe and the 10 minute time frame. Half-expecting this to trade upwards to the last major swing high. I feel though that my stop is a little too tight, but I'm going for it and reduced a bit of size. Let's see.
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