This trade came on my radar with all the indicators align with my criteria for an entry. However, we do have to take note of the recent sell-off that happened last week. Hence, I will monitor this trade closely with a trailing stoploss.
In recent, "Technology" sector & "Information Technology" industry has been bullish. But with the added effect of COVID vaccine early trial success, I do believe this stock will still have some room for the bull in the short term, though there was a recent sell-off.
Technical Analysis: - Bouncing off 50EMA & currently oversold - Abandoned Baby pattern was formed - Prices currently resting on a support level - MACD and Relative Strength is on a strong momentum
*Note - This will be a very closely monitored trade. If there are signs of continuous sell off with a huge volume or reversal, I will exit the trade immediately.