Add Exposure When Prices Hold Above 150
MTN, Vail Resorts. This could take more time to consolidate. (My first trade here failed earlier this year on earnings breakdown in April). I'm taking a second attempt here with an initial entry 153.
There is a descending resistance + the long term moving average hanging out together. The weak rallies on the break of the long term range with a 5 - 10% rally. If MTN doesn't stall in this range, there is likely a stronger rally in development at that stage looking to target 205
Weak argument for a higher low in this stage, price will need to cross 175 for that to get stronger. At that point 205 is the natural mean on the chart.
I will want to add exposure when prices hold above 150. Below 140 this head goes back on the shelf.
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