Upper and Lower bounds are in Green Dashed lines set at $3.91 and $3.32, respectively. This has been developed from the two large spikes from the Manufacturing deal stuck in China. Anything out of this lane is out of the money for a trend-trade.
Red Dashed line is the multitop resistance, spanning 2+ weeks at $3.74 - $ 3.75. This line is significant since there are 2 occasions so far that it breaks out and caries into $3.80 attempting to hit analysts target of $4.00.
Lastly, we have 2 Tiers of Support Lines:
Tier 1: $3.60-3.62, This price is where the market has been trending most comfortable lately. It likes to bounce between hard resist and Tier 1.
Tier 2: $3.45-3.47, This is hard support, multi-bottom. Dip-buy opportunities will exist between the Tier 1 and Tier 2
The Trade Setup:
The trade today averaged $3.49 on the dip-buy at 750 shares, 250 blocks. $3.47, $3.48 and later at $3.52, when noticing the momentum picking up. Exit strategy is the 61.80% to 78.60% on . Risk/Reward ratio is 3.17, target gain is 0.19 to 0.20 cents per share. Stop loss of 0.06 cents at $3.43 if it falls through Tier 2 support, which I had strong confidence it would not. Planning to cut half of position to lock in gains and power hour the rest, to potentially tackle hard resist cap at $3.75
Trading with user: @The_Collector - Lets go! *Queue Danger Zone Music*