I bought my positions today
September 25, 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. Good close on the breakout
The flaw:
The market is still in a hard-penny environment with only 36.7% of total stocks above the 200-day MA.
I'm still trading small with a pilot position until I see some trades work out fine.
September 25, 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. Good close on the breakout
The flaw:
The market is still in a hard-penny environment with only 36.7% of total stocks above the 200-day MA.
I'm still trading small with a pilot position until I see some trades work out fine.
Trade active
Sold half position into strength at +19% profit todayTrade closed: target reached
Sold the last position for +7% profit at trailing stop today.Trade closed: October 9, 2023
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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.