RDW # 2 'High Alert' Chinchilla Bounce Uptrend
This is an informative, storytelling method to explain my idea. In this particular pattern, we encounter 'high alert' ears. A chinchilla with 'perked up' ears is alert to his surroundings and is ready for something to happen. In this case, it is a chinchilla bounce upwards.
This analysis involves complex technical analysis and chart patterns, which I’ll explain from the perspective of a chinchilla. (And yes, being a chinchilla owner adds a playful twist to my approach to trading.) It's also a method for understanding how a stock works, as almost if has 'breath' allowing some up and down movement, as it moves up.
RYW_Method research and analysis identifies: Redwire is well-positioned to gain with both the Space & Defense sectors.
Target 1: 11.47 Nose
Target 2: 15.47 Eyes
Target 3: 18.47 Eyes
Target 4: > 22.47 * - industry sector
* Exercise caution, as a chinchilla bounce can be unpredictable in terms of vertical height, before a drop back down.
Trading will fail if the paws drop below Trend Line: 7.64
I appreciate the opportunity to share this story, my observations on the stock, and my predictions. Please note, this is not financial advice.