Things that I like
- Market gapped down 1% due to hot inflation data. NNE had a false breakdown and showed strength by being the first few to recover.
- Decreasing volume on consolidation
- "Long term" resistance turned support.
- Relatively new IPO stock and has potential to multibag. Fibo extension of 0.786 brings us to 52.77, which is 50% upside from here. If I use bull flag pole to measure, its even higher.
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NUKZ is the strongest sector across over 60 sectors that I track. See attached excel table in chart. Tailwind behind us.
My trade plan
- I have entered early. Heheeee =) At 32.25, as soon as I saw the false breakdown and power move up in 15mins chart.
- Although I have put in some fibo extension key levels, I'm not expecting myself to TP at those levels. In fact I really like this chart and how IPO stocks can multi-bag. So, I will be looking for opportunities to add instead (Mark Minervini style here). But if there are signs of top, I will take partial profits too.
- Market gapped down 1% due to hot inflation data. NNE had a false breakdown and showed strength by being the first few to recover.
- Decreasing volume on consolidation
- "Long term" resistance turned support.
- Relatively new IPO stock and has potential to multibag. Fibo extension of 0.786 brings us to 52.77, which is 50% upside from here. If I use bull flag pole to measure, its even higher.
-
NUKZ is the strongest sector across over 60 sectors that I track. See attached excel table in chart. Tailwind behind us. My trade plan
- I have entered early. Heheeee =) At 32.25, as soon as I saw the false breakdown and power move up in 15mins chart.
- Although I have put in some fibo extension key levels, I'm not expecting myself to TP at those levels. In fact I really like this chart and how IPO stocks can multi-bag. So, I will be looking for opportunities to add instead (Mark Minervini style here). But if there are signs of top, I will take partial profits too.
Trade active
Trade closed: stop reached
Really like this setup alot. But cut loss as soon as it broke below previous LP. Live to fight another day~
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.