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Longing on ASX:BET - uptick started today
Atualizado
The ASX market appears to be heating up.
Following on my other thesis on ASX marketing such as ASX:APT,
CCP and 
Z1P, the other pick which I expect to see a lot of actions is BET.
There are a few catalysts for BET during the few weeks:
1. It has just completed a round of SSP with over subscription hotcopper.com.au/threads/ann-betmakers-completes-oversubscribed-share-purchase-plan.5862884/
2. Its price action has started an upward trend ever since the Dec 2nd with large transaction vol on that day, and showing consolidation ever since.
3. Contrast with the Gaming/Online Sport books in the US market, most of which has gone up 30-50% since Dec, the deregulation of online sport betting in the US market should benefit BET as well.
4. The upward candle of Jan 21st apparently is testing its all time high at 0.795.
I am expecting BET to hit the 0.995 range before its earning release on Mar 2nd.
Full disclosure, I put my $$ behind my thesis and just built a position @ 0.77 with a 10% stop loss @ 0.7.
Following on my other thesis on ASX marketing such as ASX:APT,
CCP and Z1P, the other pick which I expect to see a lot of actions is BET.There are a few catalysts for BET during the few weeks:
1. It has just completed a round of SSP with over subscription hotcopper.com.au/threads/ann-betmakers-completes-oversubscribed-share-purchase-plan.5862884/
2. Its price action has started an upward trend ever since the Dec 2nd with large transaction vol on that day, and showing consolidation ever since.
3. Contrast with the Gaming/Online Sport books in the US market, most of which has gone up 30-50% since Dec, the deregulation of online sport betting in the US market should benefit BET as well.
4. The upward candle of Jan 21st apparently is testing its all time high at 0.795.
I am expecting BET to hit the 0.995 range before its earning release on Mar 2nd.
Full disclosure, I put my $$ behind my thesis and just built a position @ 0.77 with a 10% stop loss @ 0.7.
Trade fechado: stop atingido
I was wrong real fast this time. It hit my stop loss point and my position in my brokerage account has been closed already...while I am still bullish about BET...this is just the trading discipline I have to stick with for myself.
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