Trading plan: T-Mobile
This thing gapped up one year ago, finally comes back down 190 bars (1D) later for a pullback.
Chart Setup:
- Timeframe: Daily
- Backtested using this strategy <link> to scan for reversals (could be false, but decent win-rates to convince that it could be sometimes be true)
- Using price gaps to identify trends, then using volume profile - fixed range (VPFR). to map out areas of support/resistance
Observations:
-137-150 range was fake, not enough volume to support it, POC (red line) remained at 130 throughout the VPFR period
- couldn't break out of 130 on Sept 22
- drew another VPFR, this time from Q1 of FY2020 extending up to today, noticed that 103-115 is an area of value, good supports here.
- 12 month targets average out 170, a whopping 30% difference below target (much lower than Verizon's current price relative to its own average target)
Bias: Long.
Disclaimer: not an investment advice
Chart Setup:
- Timeframe: Daily
- Backtested using this strategy <link> to scan for reversals (could be false, but decent win-rates to convince that it could be sometimes be true)
- Using price gaps to identify trends, then using volume profile - fixed range (VPFR). to map out areas of support/resistance
Observations:
-137-150 range was fake, not enough volume to support it, POC (red line) remained at 130 throughout the VPFR period
- couldn't break out of 130 on Sept 22
- drew another VPFR, this time from Q1 of FY2020 extending up to today, noticed that 103-115 is an area of value, good supports here.
- 12 month targets average out 170, a whopping 30% difference below target (much lower than Verizon's current price relative to its own average target)
Bias: Long.
Disclaimer: not an investment advice
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