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$REV - BULLISH SCENARIO
Crazy volume, yesterday. On top of a 63% gain.
What's going on with this penny stock? Why is it drawing so much attention? .... I don't care haha. I'm just interested in the price and in the story it tells.
Here's a bullish scenario for this badass:
What's ostensible here, re its price action?
- Supply and demand areas. Several touches and both bullish and bearish rejections within the outlined ranges.
- Despite yesterday's rally, this stock is still in a a strong downtrend, at least on my beloved M timeframe.
- Downtrend go steeper and steeper as of the last trendline touch, back in end NOV 2019.
- Is that a Bump & Run Pattern getting formed? That'd be a strong, bullish reversal pattern.
Bullish Idea:
Trade steeper trendline breakout.
Entry: open of following candle upon breakout of trendline.
TP: Supply range
SL: Below demand zone
Positions size: in conjunction with sl and entry, no more than 1% ttl equity at risk
What's going on with this penny stock? Why is it drawing so much attention? .... I don't care haha. I'm just interested in the price and in the story it tells.
Here's a bullish scenario for this badass:
What's ostensible here, re its price action?
- Supply and demand areas. Several touches and both bullish and bearish rejections within the outlined ranges.
- Despite yesterday's rally, this stock is still in a a strong downtrend, at least on my beloved M timeframe.
- Downtrend go steeper and steeper as of the last trendline touch, back in end NOV 2019.
- Is that a Bump & Run Pattern getting formed? That'd be a strong, bullish reversal pattern.
Bullish Idea:
Trade steeper trendline breakout.
Entry: open of following candle upon breakout of trendline.
TP: Supply range
SL: Below demand zone
Positions size: in conjunction with sl and entry, no more than 1% ttl equity at risk
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