I bought my positions back today
October 26, 2023
The reasons:
1. Low-risk entry with a crisp pivot point
2. The stock is up >100% in less than 8 weeks
3. Corrected the least during the pause, less than 25% correction
4. Volume dries up as a sign of less supply coming to the market
5. A high alpha stock with a low standard deviation
6. One of the leaders in this market environment
The flaw:
1. Squat after the breakout
2. The market is still in a hard-penny environment with only 30% of total stocks above the 200-day MA.
The stock set back another pivot point after I got stopped out beforehand slightly above the breakeven. I like to see if it can hold up during this difficult market environment.
October 26, 2023
The reasons:
1. Low-risk entry with a crisp pivot point
2. The stock is up >100% in less than 8 weeks
3. Corrected the least during the pause, less than 25% correction
4. Volume dries up as a sign of less supply coming to the market
5. A high alpha stock with a low standard deviation
6. One of the leaders in this market environment
The flaw:
1. Squat after the breakout
2. The market is still in a hard-penny environment with only 30% of total stocks above the 200-day MA.
The stock set back another pivot point after I got stopped out beforehand slightly above the breakeven. I like to see if it can hold up during this difficult market environment.
Trade active:
Sold half into strength at +14% profit yesterday on 17/11/2023.
Trade active:
Today, I nailed another half into strength at +23% profit. I'm letting the rest of the position to freeroll.
Trade closed: target reached:
I got out of my last position at breakeven today.
Trade closed: December 1, 2023
Trade closed: December 1, 2023
