COGT has been trading in the range during 7 months.
Being close to the support it gives an opportunity to buy it with a tight stop-loss just below the support level.
Potential profit:
1) 40-50% if bought close to the support at 8.40 and sold as close as possible to resistance at 13.28.
But I would not bet on buying cheaper than 9.00 as it is where it meets MA200, which may give further support to it.
2) 100%, if it breaks the range and heads higher. Target - height of the range.
Being close to the support it gives an opportunity to buy it with a tight stop-loss just below the support level.
Potential profit:
1) 40-50% if bought close to the support at 8.40 and sold as close as possible to resistance at 13.28.
But I would not bet on buying cheaper than 9.00 as it is where it meets MA200, which may give further support to it.
2) 100%, if it breaks the range and heads higher. Target - height of the range.
Yorum:
buying today