ELPI - CUP WITH HANDLE
Updated
I bought the stock today
August 30, 2024
Reasons:
1. Low-risk entry point
2. Long base cup development
3. Formed a classic cup with a nice drifting handle
4. Newly IPO stock in late 2022
5. High relative strength
6. This is the second buy-able base since the IPO (first: vcp on 8/2/24)
7. More stocks start showing traction.
Flaws:
1. Not really in a confirmed stage 2 uptrend
2. No big volume on the breakout
I like to see if it can holds up and continue moving higher from here
August 30, 2024
Reasons:
1. Low-risk entry point
2. Long base cup development
3. Formed a classic cup with a nice drifting handle
4. Newly IPO stock in late 2022
5. High relative strength
6. This is the second buy-able base since the IPO (first: vcp on 8/2/24)
7. More stocks start showing traction.
Flaws:
1. Not really in a confirmed stage 2 uptrend
2. No big volume on the breakout
I like to see if it can holds up and continue moving higher from here
Trade active
Today, I sold half for +16% gains into strength.Trade active
Sold another +20% gains into strength on half today.Trade closed: target reached
Sold the last position on weakness for a decent +11% profit today.
Trade closed: 02/10/2024
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.