CELH, Long My plan was originally to wait for an opportunity to but the breakup on CELH , normal with these super performance growth stocks I have found the best way to enter is to buy near break of prior high on volume, giving yourself the highest probability of success as you have a confirmation of uptrend.
However, here I have entered on the dip due to the consequent reaction after the earnings miss . We saw the initial gap down which was immediately followed by a massive buying volume. These massive candles are a good way, imo, to help us see institutions are buying. And that's important ! Clearly, even though CELH missed on recent earnings, the market is pricing in future growth and seeing the dip as an opportunity. The earnings call transcript strongly supports this theory.
I have taken my initial position , my trading plan, if we break prior highs , is to use paper profits to average up but do so without increasing my current risk thus increasing my potential for gain while still respecting risk.
Good luck ~
