AMBA in climax run
In the past 4 trading sessions AMBA has appeared on ChartYourTrade's Gainers on Volume 3 times. Yesterday we highlighted some of the elements of a climax run. They included:
1. Largest daily price run up (Not yet. On January 7th AMBA experienced a gain of +13.46%)
2. Heaviest daily volume (CHECK, we had this today)
3. Exhaustion gap (Not yet)
4. 70-100% above the 200dma (CHECK, AMBA is currently about 97% above the 200dma)
If you’re a holder of AMBA, congratulations! You’ve bagged a monster stock! My only advice is to study the climax runs of other major monster stocks such as QCOM (March 2000), MNST (June 2006), and NFLX (August 2011), keep on the look out for other potential topping signals, review sell rules and consider strategies on scaling out and selling into strength if you haven’t done so already.
Check out other trade ideas on chartyourtrade.com
1. Largest daily price run up (Not yet. On January 7th AMBA experienced a gain of +13.46%)
2. Heaviest daily volume (CHECK, we had this today)
3. Exhaustion gap (Not yet)
4. 70-100% above the 200dma (CHECK, AMBA is currently about 97% above the 200dma)
If you’re a holder of AMBA, congratulations! You’ve bagged a monster stock! My only advice is to study the climax runs of other major monster stocks such as QCOM (March 2000), MNST (June 2006), and NFLX (August 2011), keep on the look out for other potential topping signals, review sell rules and consider strategies on scaling out and selling into strength if you haven’t done so already.
Check out other trade ideas on chartyourtrade.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.