Hi Folks,
I'm new to charting so if there's any CMT's taking a look, please feel free to criticize. Anyways, on to the chart. I like the setup for CRM here. It appears a classic Island Reversal Pattern has completed and the prices are ready to move higher. I also like the risk reward ratio. Traders can risk down to the 50DMA with a reward potential up to the prior resistance. If resistance is broken then prices could reach the prior highs.
So. you'll risk $15 for a $25 upside with potential to $41.
I'll be entering a position tomorrow when the market opens.
Thanks for looking and GLTA.
I'm new to charting so if there's any CMT's taking a look, please feel free to criticize. Anyways, on to the chart. I like the setup for CRM here. It appears a classic Island Reversal Pattern has completed and the prices are ready to move higher. I also like the risk reward ratio. Traders can risk down to the 50DMA with a reward potential up to the prior resistance. If resistance is broken then prices could reach the prior highs.
So. you'll risk $15 for a $25 upside with potential to $41.
I'll be entering a position tomorrow when the market opens.
Thanks for looking and GLTA.
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FWIW: I wish I would have seen this chart sooner. When the price crossed above the 50DMA, that was the key entry spot IMO. Congratulations to anyone who got in then.