ARQL did a breakout mid-May 2018 and reached new high of 7.21.
It has a history of consolidating around EMA 25 to EMA 35 and then dropping below EMA50 on the week of earnings report and then swing up after that.
If price pivots/bounces off S1 of 4.64, then buy at close or open of next day.
Past AO resistance levels are 0.40, 0.63 and 0.95.
If AO >= 0.40 sell half.
If 0.41 <= AO <= 0.60 sell half of remaining.
If AO >= 0.85 or if AO < 0.60 sell remaining.
..or..
If price hits R1 of 6.3 then sell. Alternatively go long till it breaks R3 of 7.9.
Stop Loss at 3.93.
Risk/Reward: 2.34
This study is based on: How to Trade with Fibonacci Extensions
It has a history of consolidating around EMA 25 to EMA 35 and then dropping below EMA50 on the week of earnings report and then swing up after that.
If price pivots/bounces off S1 of 4.64, then buy at close or open of next day.
Past AO resistance levels are 0.40, 0.63 and 0.95.
If AO >= 0.40 sell half.
If 0.41 <= AO <= 0.60 sell half of remaining.
If AO >= 0.85 or if AO < 0.60 sell remaining.
..or..
If price hits R1 of 6.3 then sell. Alternatively go long till it breaks R3 of 7.9.
Stop Loss at 3.93.
Risk/Reward: 2.34
This study is based on: How to Trade with Fibonacci Extensions