The Imminent Ambarella (AMBA) Stock Move (2 / 3)
How to Trade the $AMBA Move: Price Targets | Buy Sell Triggers | Time Cycles #swingtrading #daytrading
In Part One We Covered; Thesis, Catalysts, The Company, Chart History, Chart Study (for Part 1 click here).
Excerpt summary from part one….
Ambarella (AMBA) stock has dumped from the mid 60’s to the mid 40’s since early January 2018 (a huge short side win – the Trump effect) and is now near recent historical lows (the Trump effect catalyst and run-up from September 2017 to January 2018).
Below is Part 2 of a 3 part detailed trading plan for Ambarella. You will find a trading plan for the bullish thesis and levels to watch for a bear thesis leading in to earnings in 39 days (June 5, 2018) and a critical time-cycle completion on the chart model at / or near the same timing (approximately June 9, 2018).
In the trading plan I include price targets, support and resistance levels, buy sell triggers and time cycle completions.
Using this technical set-up you will know how to exploit the move for a much greater return if are an active trader (of course this is not required for an excellent gain) and you trim long positions in to resistance in anticipation of moderate retrace and add above each resistance after each retrace.
Part Two below is a detailed battle plan for day trading and swing trading this move.
Part Three (for swing trading newsletter members) will cover the move in detail as it plays out.
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Part 2 – The Battle Plan | How to Trade the $AMBA Move
Here’s your technical chart set-up for trading $AMBA:
As noted in part one,
If I’m right (and if I’m not it’s a simple cut fast with a minor cut) there’s a wash-out snap-back trade setting up here that is near epic proportions…
At minimum I’m looking for $AMBA to snap back in to the 53s. A trade from the low 40s to the mid 50s is a serious return (if it actually happens and if it happens over the course of the next 3 to 4 months).
$AMBA closed April 27 at 46.75.
Trend Change: This set-up is a long over 49.50 (if 49.50 area is held) for a major trend change to the upside. Resistance is at 51.50 area in this scenario (trim in advance and add over).
or for Active Trading: This is a long over 47.25 in to resistance near 49.40 (trim in advance and add over).
Be sure to trim longs in advance of that and then if resistance is breached add over that to the next resistance and then rinse and repeat. The horizontal fib lines on the chart show you support and resistance points.
On the short side for a day trade… Friday’s close was 46.75 and the next support is in the 44.55 range… so if there is pressure on the stock in premarket or at open Monday then a short in to the 44.55 support may work out. But be cautious, this thing has science all over it saying that a snap-back is very possible and it should be vicious when it starts.
Support and Resistance Levels – I’ve made the chart easy to manage visually by adding white arrows to each major support and resistance level. The white arrows are your primary buy sell triggers.
Note also the “trading quad walls”. These are Fibonacci based diagonal trend-lines that form a trading structure “quadrants”. They also act as support and resistance.
The red circles are price targets. The price targets for June 10, 2018 time cycle peak are 58.60 (bullish), 49.40 (moderate), 40.13 (bearish). Trade in accordance to price action toward the appropriate target. It is paint by numbers trading – just follow the rules and if your trade fails be sure to cut losses quickly and be ready to turn with price as needed. Trust the plan.
The MOST INTERESTING THING about this set-up is the possibility for a trend reversal based on a simple wash-out down trend with a snap-back that could see a significant three to six month trend to the upside.
In Part 3 (for our Swing Trading Members) I will cover that scenario for significant gains should that transpire.
Also… pay attention to the downside bearish scenario playing out here. If that occurs I will do a Part 3 specific to that and include a detailed trading plan.
My Personal Earnings Rule: 95% of the time I will not hold in to earnings. Trade your plan however you wish.
Here’s your technical chart set-up for trading Ambarella $AMBA.
https://www.tradingview.com/chart/AMBA/ufT6ViRd-Here-s-your-technical-chart-set-up-for-trading-Ambarella-AMBA/
Here’s your technical chart set-up for trading Ambarella $AMBA. by curtmelonopoly on TradingView.com
Good luck with your Ambarella trade and if you need any help message me anytime!
To register as a swing trading member click here.
Best and Peace.
Curt
If you are not already on our Free Swing Trading Periodical email list follow the link here to get on it to receive trading set-ups in the future. Unsubscribe anytime.
In Closing:
A few hours of trade coaching or study on exactly how to trim in to resistance and how to add to your positions on winners and how to cut losses properly and quickly will return huge dividends.
You can subscribe to our Weekly Swing Trading Newsletter service here, use temporary Promo Code “30P” for 30% off Reg 119.00 Sale Price 83.30.
Or click here to subscribe and get 30% off Real-Time Swing Trading Alerts Reg 99.00 Sale Price 69.37 use temporary Promo Code “Deal30” for 30% off.
I personally guarantee our swing trading service is one of the best in the business and it’s very reasonably priced considering the technical expertise invested in the platform.
Any questions feel welcome to contact me anytime.
Best with this trade!
Peace and best.
Curt
Curtis Melonopoly (@curtmelonopoly) is rated Top 250 Stock exchanges authority, covering also Mathematical finance and Economy of the United States.
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Article Topic; AMBARELLA (AMBA) CHART. How to Trade AMBARELLA, Stock, $AMBA, #swingtrading #daytrading