I bought my positions today
February 12, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through a majority line of supply
4. An early IPO stock to has big upward momentum to considered a leader in this type of market
5. High relative strength
6. Volume dries up as less supply coming to the market
7. A decent volume on the breakout
Flaws:
1. The market is still in a hard-penny environment, not much confirmation from the momentum stocks with only 25% of total stocks above the 200-day moving average
2. The index is moving higher but there are still less stocks setting up.
I like to see some follow through action from now.
February 12, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through a majority line of supply
4. An early IPO stock to has big upward momentum to considered a leader in this type of market
5. High relative strength
6. Volume dries up as less supply coming to the market
7. A decent volume on the breakout
Flaws:
1. The market is still in a hard-penny environment, not much confirmation from the momentum stocks with only 25% of total stocks above the 200-day moving average
2. The index is moving higher but there are still less stocks setting up.
I like to see some follow through action from now.
Trade chiuso: obiettivo raggiunto:
Judgment call. I sold my entire position at breakeven. The bid-offer is quite small, I'm not willing to get caught.
Trade closed: February 21, 2024
Trade closed: February 21, 2024
