SONACOMS LONG
Hi everyone, Hope you are having a Gooday.
The vcp trader is back with a new trade idea.
The stock name is SONACOMS
Trade Idea: SONACOMS Long Position
Instrument: SONACOMS
Time Frame: Daily
Trade Type: Long
The price of SONACOMS has recently shown bullish momentum and is approaching a favorable entry point. Currently trading at 729, the stock is poised to test the next resistance level at 790 and eventually surpass the all time highs in the coming months. The support level at 702 provides a solid base for the stop loss, ensuring a controlled risk if the trade does not go as planned.
This is a [Volatility contraction pattern] and the stock is set to reach new highs.
The chosen entry point of 729 is set to capture the potential upward movement as the price continues to build on its bullish trend. The stop loss is strategically placed at 702 to limit potential losses, while the take profit target at 790 aligns with the historical resistance level, offering a risk-reward ratio of 1:2.5, which is favorable for this trade setup.
DISCLAIMAR- This is not a financial advice, Please consult your financial advisor before taking any trades.
RaW^
The vcp trader is back with a new trade idea.
The stock name is SONACOMS
Trade Idea: SONACOMS Long Position
Instrument: SONACOMS
Time Frame: Daily
Trade Type: Long
The price of SONACOMS has recently shown bullish momentum and is approaching a favorable entry point. Currently trading at 729, the stock is poised to test the next resistance level at 790 and eventually surpass the all time highs in the coming months. The support level at 702 provides a solid base for the stop loss, ensuring a controlled risk if the trade does not go as planned.
This is a [Volatility contraction pattern] and the stock is set to reach new highs.
The chosen entry point of 729 is set to capture the potential upward movement as the price continues to build on its bullish trend. The stop loss is strategically placed at 702 to limit potential losses, while the take profit target at 790 aligns with the historical resistance level, offering a risk-reward ratio of 1:2.5, which is favorable for this trade setup.
DISCLAIMAR- This is not a financial advice, Please consult your financial advisor before taking any trades.
RaW^
Nota
Holding with the same idea. 
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