Trade Idea- Ralph Lauren Quad Bottom

phoenix25140

Active member
102 2
RL- Nice quad bottom shaping up, look for a move up and some volume to confirm.
 

Attachments

  • RL.jpg
    RL.jpg
    114.5 KB · Views: 192

wackypete2

Legendary member
10,229 2,054
I like it. Nice r:r
(y)(y)

If you can get in near 171 you have a $6 stop and About $15-18 target.

Peter
 

StockIdeas

Established member
547 0
I use the StockConsultant site alot for support and resistance and see triple+ (quad?) support at 173.3 and 169, looks like it could get to 169

CURRENT PRICE 171.05, just above support, 169 ± 2.03, type triple+, strength 10

SUPPORT BELOW -1.2% at 169 ± 2.03, type triple+, strength 10
 
Last edited:

wackypete2

Legendary member
10,229 2,054
or a double top, and I'll wager I'm right

That's why I'd have the stop @ 165. It's a clear break lower. Small risk for the potential reward. If I were to play the double top I'd rather have taken a similar small risk near the top of the range with a stop that signals a clear break higher. But a look at the 5yr chart shows a nice uptrend so I'll go with that.

Peter
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock