$STX is showing strength, but has rejecting off the 0.5 Fib level while forming higher highs and higher lows. Price has been bouncing off the 20SMA and 50SMA cross too , setting up a strong bullish structure.

Here’s the plan:

Golden Zone Entry: Watching for a retracement into the golden zone (0.618-0.66 fib), with the 20SMA and 50SMA providing confluence in that region. I also like there to be a bullish divergence as an extra confirmation!

Stop-Loss: Placed just below the relative low to minimize risk.

Targets:

TP1: The recent relative high at the 0.5 Fib for a high probability set up!

TP2 & 3 : Higher at the 0.618 or even the March highs for a better risk-reward.