Trade Setup
ReShape Lifesciences Inc., a medical device company, provides products and services that manages and treat obesity and metabolic diseases in the United States, Australia, Europe, and internationally. The company’s product portfolio includes Lap-Band System, a minimally invasive long-term treatment of severe obesity and more invasive surgical stapling procedures, such as the gastric bypass or sleeve gastrectomy; and ReShape Vest system, an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach to enable weight loss in obese and morbidly obese patients without cutting or permanently removing portions of the stomach, or bypassing any portion of the gastrointestinal tract.
The stocks founds in the TradersPro Alerts category use a fixed entry and exit point using fibonacci analysis. It is a confirmation strategy that waits for the stock to make a move then a trader enters the trend at specific prices. The .382 fibonacci level of the prior trend is the entry and the .618 is the exit, with the stop loss under the swing low. This typically creates a 1 to 1 reward to risk with a high probability of success. To learn more about the fibonacci snap tool and this strategy you can go here.
