BIKE - POWER PLAY
Updated
I bought my positions today
August 28, 2023
The reasons:
1. Low-risk entry point
2. The stock is up >100% in less than 8 weeks
3. Corrected the least during the pause, less than 25% correction
4. Volume dries up as a sign of less supply coming to the market
5. High alpha stock with a low standard deviation
6. A base reset to a proper and crisp pivot on PP setup
7. Huge volume on the breakout
8. The theme: Power play. The setups work well in this current market environment
The flaw:
No identifiable flaws thus far
August 28, 2023
The reasons:
1. Low-risk entry point
2. The stock is up >100% in less than 8 weeks
3. Corrected the least during the pause, less than 25% correction
4. Volume dries up as a sign of less supply coming to the market
5. High alpha stock with a low standard deviation
6. A base reset to a proper and crisp pivot on PP setup
7. Huge volume on the breakout
8. The theme: Power play. The setups work well in this current market environment
The flaw:
No identifiable flaws thus far
Trade closed manually
I get out at the breakeven today due to abnormal price action.Trade closed: August 29, 2023
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