CROX - bullish but near-term resistence overhead
CROX is up 28% since breaking out from a 3 month sideway consolidation in early Nov2022. I posted about it on 6 Nov and placed a tight stop just under it's last bullish candle @ 76 and was never stopped out.
It is now forming a bullish pennant (a positive) just under a horizontal resistence zone 109 - 111 (a negative). the chance of breaking up or pulling back from here is 50-50 right now. I will take 1/3 profits and tighten the stop for the rest to just under 100 (50% fib retracement of it's most recent mini upswing).
Should the stock has a successful breakup above 111 eventually, then that will be another bullish trigger. Let's see how it goes.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
It is now forming a bullish pennant (a positive) just under a horizontal resistence zone 109 - 111 (a negative). the chance of breaking up or pulling back from here is 50-50 right now. I will take 1/3 profits and tighten the stop for the rest to just under 100 (50% fib retracement of it's most recent mini upswing).
Should the stock has a successful breakup above 111 eventually, then that will be another bullish trigger. Let's see how it goes.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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