After retracing a steep 62% from it's recent swing high, Riverstone tested horizontal support at 3.52 this morning and quickly rebounded from here. With bullish divergence between price and stochastic in the making, I would long here @ 3.60 with initial stop at 3.48.
Take partial profits between 4.20-4.35 and ride the rest with a trailing stop.
(trialing stop is a must as this guy is volatile)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Take partial profits between 4.20-4.35 and ride the rest with a trailing stop.
(trialing stop is a must as this guy is volatile)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.