SMSPHARMA - Weekly breakout
Analysis for educational purposes only. I am not a registered analyst.
- In the weekly chart, we see a breakout of previous HH
- HH is retested which is an ideal entry point.
- Set SL as previous low or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter OR wait for a suitable entry.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target
- In the weekly chart, we see a breakout of previous HH
- HH is retested which is an ideal entry point.
- Set SL as previous low or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter OR wait for a suitable entry.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target
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