Long AMBA...Looking for Bounce off of 100MA and Lower Trendline
I am looking for AMBA to bounce off of its 100MA and lower channel trendline. I do caution that I believe we might see a flush through the MA and trendline before using it as support. With the gpro lock up, we might we support levels flush through before bouncing.
I have set up a buy target just below the MA and trend lines between 48-49. I have a tight stop of 47 because it is possible that we break total down in the near term.
This is a high risk trade. If we do bounce I think we get back up to the 50MA range for a retest
I have set up a buy target just below the MA and trend lines between 48-49. I have a tight stop of 47 because it is possible that we break total down in the near term.
This is a high risk trade. If we do bounce I think we get back up to the 50MA range for a retest
Kris "Maddog" Kagan -
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