I bought my positions today
January 8, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. A long base cup and handle formation
4. One inside day pause in the handle area
5. The base has VCP characteristics
6. High relative strength
6. Volume dries up as less supply coming to the market
7. Huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment with only 31% of total stocks above the 200-day MA
2. The index is moving higher but there are still less stocks setting up.
I like to see some follow through action from now.
January 8, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. A long base cup and handle formation
4. One inside day pause in the handle area
5. The base has VCP characteristics
6. High relative strength
6. Volume dries up as less supply coming to the market
7. Huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment with only 31% of total stocks above the 200-day MA
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
I got out at the trailing stop for 3% gain today.Trade closed: February 5, 2024
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.