I started looking at
DUOL
after it popped up in a question on a call with Calebs Cube Analytics premium group, and then again when it showed up in one of the Zacks reports.
It looks like its recently completed a 5 wave pattern and an ABC correction. We have a slight breakout from the descending trendline that is testing the 21VWMA:50EMA cloud. I'd like to see price retest the breakout and confirm support, then look to overhead fib levels for profit taking. A close below 175 invalidates.
The advantage to looking for these types of opportunities is that we can use really tight stops. Using stops between 174-181, and profit taking targets at 200, 214, 224, and 240 gives us a 2.5:1 to 3:1 risk reward.
DUOL
after it popped up in a question on a call with Calebs Cube Analytics premium group, and then again when it showed up in one of the Zacks reports. It looks like its recently completed a 5 wave pattern and an ABC correction. We have a slight breakout from the descending trendline that is testing the 21VWMA:50EMA cloud. I'd like to see price retest the breakout and confirm support, then look to overhead fib levels for profit taking. A close below 175 invalidates.
The advantage to looking for these types of opportunities is that we can use really tight stops. Using stops between 174-181, and profit taking targets at 200, 214, 224, and 240 gives us a 2.5:1 to 3:1 risk reward.