Looking from weekly chart, we are up 2 weeks consecutively!
A nice ABCD pattern has been completed and price is now consolidating at the resistance level of 602.66. Note there is a small gap up on 30 Apr.
How will price moves from here ?
1. It moves down to close the gap and then continue the run up
2. It breaks above the resistance level and run up
You can park 5% at option 1 as it is difficult to know in short term how the price action will move.
Then, if the price goes to option 2, you can add more, ie 10-15% .
Both options are on the basis you bought into the fundamentals and growth story of this company. If you are trading for short term, then it is a different story. Price has already rebounded 50+% from the bottom, meaning you probably have missed the boat to go LONG around 480-520 price level.
It also depends how long you want to hold this stock for , is it a day , a week or months? The longer your time frame, the lesser precise you need to be in your entry. Don’t lose sleep if you did not catch it at the ultra bottom, very few can (they are more lucky than skilful )
As usual, this is not financial advice and please DYODD