TOST hit bottom 8.5 months ago on 12 May 2022 and began a 2 stage basing, lasting 3 and 5+ months respectively (pink and blue box shown on chart).
During its basing, there were high volume accumulations on numerous occasions.
Stage 2 basing occurred over 5.5 months with the stock whip-sawing around its 200 day moving average until the MA is no longer downward sloping but completely flat now (and ready to turn up...).
Yesterday the stock finally pierced above the a critical neckline @ 22.50 and has remained above so far. The odds of this being a successful breakup is much greater now owing to the shift in overall market sentiment.
An aggressive trader would enter on the breakof the neckline (Entry 1) with initial stop loss placed just below the most recent pivot low @20. The more conservative trader could wait until the uptrend is slightly more established and enter at #2.
Watch out for earnings expected on 14 Feb.
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!
During its basing, there were high volume accumulations on numerous occasions.
Stage 2 basing occurred over 5.5 months with the stock whip-sawing around its 200 day moving average until the MA is no longer downward sloping but completely flat now (and ready to turn up...).
Yesterday the stock finally pierced above the a critical neckline @ 22.50 and has remained above so far. The odds of this being a successful breakup is much greater now owing to the shift in overall market sentiment.
An aggressive trader would enter on the breakof the neckline (Entry 1) with initial stop loss placed just below the most recent pivot low @20. The more conservative trader could wait until the uptrend is slightly more established and enter at #2.
Watch out for earnings expected on 14 Feb.
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!