I bought my positions today
September 18, 2023
The reasons:
1. The stock offers a low-risk entry point
2. It developed a textbook flat base setup
3. It has VCP characteristics
4. It has a high relative strength
5. It outperforms the general market
6. Volume dries up and huge volume on the breakout
Flaw:
The market is still in a hard-penny environment with only 33.8% of total stocks above the 200-day MA.
September 18, 2023
The reasons:
1. The stock offers a low-risk entry point
2. It developed a textbook flat base setup
3. It has VCP characteristics
4. It has a high relative strength
5. It outperforms the general market
6. Volume dries up and huge volume on the breakout
Flaw:
The market is still in a hard-penny environment with only 33.8% of total stocks above the 200-day MA.
Trade active
Due to liquidity issues, I nailed half position at +10% profit today.Trade closed: target reached
The chart is still looking good forming another cup with handle formation. However, the liquidity is too low to hold my position. I nailed the last position at +10% profit today.Trade closed: December 7, 2023
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.