Hubert Senters here.
Let’s take a look at Team. Ticker symbol TEAM. So it looks pretty good. Overall the market was a nice little selloff and this little creature held up nice to the high side.
You can see it’s got a gap up. It has not back filled and fill that gap. It has continue to go higher.
Sideways higher, sideways and now it did sideways again and now it’s higher. So how do you figure out a target on this?
Let’s just say that we’re totally missing a thing and we’re suffering from FOMO like a ton of stuff in the market looks like lower, this one looks pretty lit. How would you do it?
Well, number one you missed it. And you should say hey, I should have bought it when it tag a turning line. Stop right there at the low at $372 in an open target right using with fibs.
Let’s say you missed that. So second angle of attack. Let’s go look at this right here. Take a 50 percent retracement from today’s low to today’s high.
Throw a bid out there for a potential bid long at $385.99. Let’s just go $386 and $384.35. That would be the zone that you would purchase.
Your stop would be depending on where your entry is but it would be the low of $379 and now we can do a target.
Then it’s pretty simple. Go back and see low, high, higher low. Get you a fib. Do a little bit of creative drawling. Not too bad.
One, two and then three. I want to put it right here on the actual bottom of the green. Next target $394 followed by $408, $422 and $431.
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Good luck. Hope it helps. See you on the next video.