Hubert Senters here.
Got a question from a viewer. Question is from Peter.
Hello, do you have any information on EDIT? Has it run its course or will it go higher?
I don’t know anything about Edit. But I can throw it on a chart and tell you where I think it’s headed. Let me take a look really quick.
So I’ve got a chart pulled up here. It spends a lot of time sideways but overall right now it’s trending so it tradeable in my opinion.
If you’re long I would take some profit because it’s had a nice little gap up and its trading consolidation.
If you’re more of a breakout trader I would wait for it to breakthrough $67.41 and go to $80. Now, it may not do that it may pullback.
If it goes just a simple bracket trade. I mean it’s vertical since this little move right here. Six solid updates and its move from basically $30 up to $60 so it’s doubled.
It’s not going to pullback. It’s not going to go to a thousand untested. It will probably continue higher but before it does that it will probably be pullback a little bit.
So one way to do it is take the low of the breakout to the high of the breakout and say normal would be retracement to about $49.49.
But you don’t have to worry about that until it breaks $56.60 so in other words if your long I would sell half of my position and bump up my stuff.
If you’re not long and you’re just trying to get long I’d wait for a pullback. Hopefully that helps you out.
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Now, your results may be different same way as my results may be different than yours may be different from Steven.
Come checkout the webinar and let me know what you think.
Good luck. Hope it helps. See you on the next video.
Hubert.
