On the Ichimoku Daily Chart, it has move above its Tenkan sen as well as move above its resistance at 5.79

Not too sure what’s the cause. But earnings is on May 13.

This could be a good swing trade idea with a stop loss at around $5.60

From the Ichimoku chart, we can see that it is trading in a tight narrow range attempting to fill its previous gap resistance at around $6.93

Both the Tenkan sen and Kijun sen is starting to point upwards; a validation that the ascending triangle is forming.

No strong bull trend or swing trade has developed yet as we can see the leading kumo is flat and the Tenkan sen and Kijun slopes are not very steep.

With both the Tenkan sen and Kijun sen so near each other, it is starting to provide a much stronger support for SVA.

A breakout above $6.93 will see a target price of $7.52 (resistance at the next Chikou Span point).

One of my first mistakes when I started trading was not having protective stops in place. That needs to huge losses.

The habit of having a protective stop has saved me a number of times. The downside is there will be times when the stock I am holding went on to greater heights.

It could be a blessing in disguise as the Fed announced a rate hike after the market close.

With the rate hike, I am not sure if SVA will move higher. It may retrace first before punching through its resistance.

As a reminder to myself : Always have a stop in place

From the Ichimoku chart, we can see that it is now facing immediate resistance from the gap at around 6.78.

We can also see that the Kijun sen (purple line)  is right at 6.78

My guess is that it will hold above 6.50 .

If it breaks through the Kijun sen, the next target is around 7.26  and 7.53

The leading kumo is also flattening; a sign that it is settling into an equilibrium (most likely the price will take a breather near the flat kumo before pushing forward again)