$WORK: Excellent entry on analyst downgrade

This was paused for ascending triangle breakout. I don't care about analyst upgrades or downgrades, as they are all biased crap. How long have analyst been calling for AMZN or NFLX, amongst other tech stocks, to crash? It seems every year some analyst releases a note of doom and yet these companies continue to outperform and dismantle the old order.

Anyway, back to the chart. A bottom was put in on Sep 27th and an ascending triangle was playing out. This gap down creates a gap fill, long opportunity for me, so I'm in long term.

Note

I love these shake outs. Added more to my position. 10% drop provided an excellent opportunity to lower my cost basis.

Trade active

Note

One analyst downgrades, only a week later another analyst upgrades. I'm telling you, this is why I take their notes with a grain of salt. Slack has no debt and proprietary tech. They aren't making money now but when they begin to make money we will see this stock surpass it's all time high. Daily Active Users (DAU) is growing and engagement totally wipes the closest competition which is Microsoft Teams. Teams is loaded for free in Office, whereas is not loaded free anywhere by default. Companies are choosing to use Slack, with 500K paying customers.

Trade active

Initial target reached. Took profits as the market is on the edge of a cliff. Still in the name as a long term hold. I fully expect this to retrace, and it will be at that point when I buy more giving me a much lower cost basis. Stay at home work is here to stay.

streetgainer

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.

streetgainer