CAKE rises on VWAP bounce LONG

CAKE on a 30-minute chart with a set of VWAP band lines anchored back one month shows

the cycle of a trend up from a good earnings report into the uppermost band lines followed

by a retracement down to the slowly rising mean VWAP where after consolidation and

testing of that support, price has begun a new trend up. This is confirmed by EMA line

convergences as well as RSI strength bullish divergence prior to the price action reversal.

I will take a long trade here targeting 39 and 41 price levels reflecting the upper VWAP band

lines. These are roughly 5 and 10% as realistic targets with a stop loss below the mean VWAP

line at 36.8.

Transaction en cours:

Price moved up a bit and so the stop loss was raised 2%. Staying patient this is a long swing trade.

Transaction en cours:

Commentaire:

Now closer to the first target.