Chart
Asset: Beam Therapeutics Inc. (BEAM)
Timeframe: 30-Min Chart
Setup Type: Symmetrical Triangle Breakout
Trade Plan (Long Position):
Entry Zone: $32.40 (Breakout Confirmation)
Stop-Loss (SL): $29.56 (Below Support)
Take Profit Targets (Long Trade):
TP1: $35.64 (First Resistance)
TP2: $39.32 (Extended Bullish Target)
Risk-Reward Ratio Calculation:
Risk (Stop-Loss Distance):
$32.40 – $29.56 = $2.84
Reward to TP1:
$35.64 – $32.40 = $3.24
Risk-Reward Ratio to TP1: 1:1.14
Reward to TP2:
$39.32 – $32.40 = $6.92
Risk-Reward Ratio to TP2: 1:2.43
Technical Analysis & Strategy:
Breakout Confirmation: Strong buying momentum above $32.40 signals continuation.
Pattern Formation: Symmetrical Triangle Breakout, indicating bullish movement.
Key Support & Resistance Levels:
🟢 $29.56 (Strong Support / SL Level)
🟡 $32.40 (Breakout Zone / Entry)
$35.64 (First Profit Target / Resistance)
🟢 $39.32 (Final Target for Momentum Extension)
Momentum Shift Expected:
If price sustains above $32.40, it could push towards $35.64 and $39.32.
A high-volume breakout would confirm trend continuation.
Trade Execution & Risk Management:
Volume Confirmation: Ensure buying volume remains strong after breakout.
Trailing Stop Strategy: If price reaches TP1 ($35.64), move SL to entry ($32.40) to lock in profits.
Partial Profit Booking Strategy:
Take 50% profits at $35.64, let the rest run to $39.32.
Adjust Stop-Loss to Break-even ($32.40) after TP1 is hit.
️ Fake Breakout Risk:
If price drops below $32.40, be cautious and watch for a retest before re-entering.
Final Thoughts:
Bullish Setup – If price holds above $32.40, higher targets are expected.
Momentum Shift Possible – Watch for volume confirmation.
Favorable Risk-Reward Ratio – 1:1.14 to TP1, 1:2.43 to TP2.
Stick to the plan, manage risk, and trade smart!
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