Expecting PINS to Break Out and Hit ~$35
PINS has been trading around this volume area/Monthly/Weekly SR level for a while now, and looks like it is getting ready to break out.
The Weekly MACD has shown the 'buy signal' and shorter term indicators (EMAs, MACD) are fairly bullish as well.
I am targeting $35 since that is the next volume area, and also a Monthly SR level.
There is a gap below that needs to be filled, so planning an entry around that would be ideal, and gives very good RR as well.
If it doesn't retrace, then playing the breakout over the Weekly SR is fine too.
Also worth noting is that past $35, there is a lot of room for it to run as there are no major (Monthly/Weekly) SR levels until ~$60. But I wouldn't get greedy and look for that.
The Weekly MACD has shown the 'buy signal' and shorter term indicators (EMAs, MACD) are fairly bullish as well.
I am targeting $35 since that is the next volume area, and also a Monthly SR level.
There is a gap below that needs to be filled, so planning an entry around that would be ideal, and gives very good RR as well.
If it doesn't retrace, then playing the breakout over the Weekly SR is fine too.
Also worth noting is that past $35, there is a lot of room for it to run as there are no major (Monthly/Weekly) SR levels until ~$60. But I wouldn't get greedy and look for that.
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