TRADE ALERT
www.stewdam.us
Traders,
Got stopped out of Jasmy early this morning. Taking that reserve and applying it towards GTC which continues to play out nearly perfect technical price action and I could not think of a better entry than right here at $2.72 where we retest previous resistance. Take a look at this chart. As you remember, I’ve already made profit from the recent 25% pump on the exit of this long-trending descending wedge. I exited at the 50 day ma which I expected to provide enough resistance to drop us back down to previous resistance, now support …the top of our wedge. We have done this precisely and touched! Now, it’s time to go (I hope)!
Entry = 2.72
Targets = 100/200 day @4.50-7.50
Stop = 2.37
Risk/Reward = 5.5/1+
-Stew