Past support now become support (it's not a play on words) look the chart and is easy to understand.
But this idea need some weeks to mature because after the last price rally from 10.2 to 17.60
I need to watch some kind of price consolidation and that the market accepts this new price.
Support in the 15.00 area is very clear in this example and I only need to draw one line in the weekly chart
another point to emphasize here is a bottom tail of the last red candle who is testing the 15.00
I think I do not need more technical arguments for explain this stock idea.
I do not give price targets with accuracy but let explain how would I handle this trade: If I buy now at 16.06 and after several months the trade is working
I would close the operation based on the behavior of the price at that time in the future using the moving averages as reference but not a moving average crossover for closing the position because I dot no use a mechanical trading system I close the position if a weekly bar close in the area between the blue moving average and the green moving average
In a nutshell I buy and sell based in my discretion
But you dear reader need to complete this with .
Again I repeat my ideas are for long term Investing and they need patience to grow up and fundamental research for sustain my technical arguments.