I have a position today
December 14, 2023
The reasons:
1. Low-risk pivot point
2. The stock went up >100% within 8 weeks
3. It corrects only 13%, indicating big institutions are unwilling to unload their position
4. High relative strength, outperforming the general market
5. The stock is moving on its own universe, marching to its own drummer
6. Volume dries up as less supply coming to the market
7. There is decent volume on the breakout
Flaws:
1. It needs to go through some overhead supply on the left side
2. The market is still in a hard-penny environment with only 29% of total stocks above the 200-day MA.
This is my initial position. I want to see it set up a better pivot to add to my positions.
December 14, 2023
The reasons:
1. Low-risk pivot point
2. The stock went up >100% within 8 weeks
3. It corrects only 13%, indicating big institutions are unwilling to unload their position
4. High relative strength, outperforming the general market
5. The stock is moving on its own universe, marching to its own drummer
6. Volume dries up as less supply coming to the market
7. There is decent volume on the breakout
Flaws:
1. It needs to go through some overhead supply on the left side
2. The market is still in a hard-penny environment with only 29% of total stocks above the 200-day MA.
This is my initial position. I want to see it set up a better pivot to add to my positions.
Trade fechado: stop atingido
I was stopped out today at -9% loss.Trade closed: December 15, 2023
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.