Long
Broadening wedge/ Double bottom?
I'm sure many people have been frustrated with this ticker for the last month in the half since there has been so much chop, meaning it's likely a time to back off and let it play outstay on the sidelines before some clarity reveals itself as there are always better plays for the week to be putting your attention towards. Let's not forget this had a 500%+ run from the bottom to ATH, so a correction like this.
I'm long-term bullish on telemedicine and DOC. Currently we are headed a support area , which I think its unlikely to break, so I added to my position here as I'm approaching it as an investor rather than a trader who waits for confirmation, Since it has already retraced 40%, It's a great buying opportunity for a hyper growth stock.
As a trader I'd recommend just waiting until this downward trendline breaks or buy along the bottom of the other trendline at around 1.6 if it does reach there, but I doubt it. There seems to be some bullish divergence going on the rsi indicating selling pressure is starting o slow down.
I'm long-term bullish on telemedicine and DOC. Currently we are headed a support area , which I think its unlikely to break, so I added to my position here as I'm approaching it as an investor rather than a trader who waits for confirmation, Since it has already retraced 40%, It's a great buying opportunity for a hyper growth stock.
As a trader I'd recommend just waiting until this downward trendline breaks or buy along the bottom of the other trendline at around 1.6 if it does reach there, but I doubt it. There seems to be some bullish divergence going on the rsi indicating selling pressure is starting o slow down.
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