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
Read faster with getcoralai.com//?ref=dojiemoji
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.