TIGR, Possible huge mid term profit! Not a difficult decission!
Updated
Is TIGR going to start a new motive wave to make a new ATH? Of course possible.
General trend of TIGR is UP . TIGR has completed waves 1,2, 3 and possibly just 4 of a large cycle Elliott wave and is starting a new up going wave to make a new ATH to complete wave 5 of this Elliott cycle. Price currently has retraced back 0.786 of its last rally from 4.3 to 38.5 USD.
Strong support has been formed around 11-12 USD consisting of pre-mentioned 0.786 retracement of last motive wave and some Fibonacci levels of internal structure of down going wave C of an ABC form of correction. All these descriptions are shown on the chart.
Stochastic indicator in both weekly and daily time frames is in oversold zone which suggests the forming low may be the last low for several weeks.
If true, Price goes high up to 46 USD which brings us around 250 % profit. Therefore if you are a patient trader you can hold your shares to reach to the mentioned target and enjoy your trade.
Besides all these bullish signs market may choose another path for TIGR, So like always we are objective and trade based on facts. It means we set our stop loss carefully in the case of opening a long position.
We enjoy our trading . Don't we?
General trend of TIGR is UP . TIGR has completed waves 1,2, 3 and possibly just 4 of a large cycle Elliott wave and is starting a new up going wave to make a new ATH to complete wave 5 of this Elliott cycle. Price currently has retraced back 0.786 of its last rally from 4.3 to 38.5 USD.
Strong support has been formed around 11-12 USD consisting of pre-mentioned 0.786 retracement of last motive wave and some Fibonacci levels of internal structure of down going wave C of an ABC form of correction. All these descriptions are shown on the chart.
Stochastic indicator in both weekly and daily time frames is in oversold zone which suggests the forming low may be the last low for several weeks.
If true, Price goes high up to 46 USD which brings us around 250 % profit. Therefore if you are a patient trader you can hold your shares to reach to the mentioned target and enjoy your trade.
Besides all these bullish signs market may choose another path for TIGR, So like always we are objective and trade based on facts. It means we set our stop loss carefully in the case of opening a long position.
We enjoy our trading . Don't we?
Note
Earning report will come soon and it will determine the future path of the stock. So far short term down trend line in logarithmic scale has prevented stock from more up ward move. Down trend line break out or loosing the last low? we will find the answer soon.Note
Positive Earning report pushed the stock strongly above down trend line. We enjoy our trading right?Note
We always trade objectively and stick to our predefined stop loss. Market does anything it wants. We are the one who should adjust ourselves.Trade closed: stop reached
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