ARM holdings - long at 51$ IPO price

ARM´s IPO hype was only of short duration. Today the market have almost reached the original issue price of $51. Here I'm going to open a small long position (I will add longs after a consolidation or reversal). I expect the price to go up to the gap close. There I will put my take profit and also place a short order.

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Comment:

51$ did not hold so far. Set my planned entry down to 50$.
I only buy if the ES starts to consolidate near August 23 low.

Trade active:

bought first 50 shares today
Now I am looking for a daily candle close above 53$
before I start to add more shares to this Position.

Comment:

Pre market looking good so far. I expect a little correction today but that down movement yesterday in the S&P500 was strong. Maybe we could see another similar movement on Monday....

For now the next resistance I keep my eye on is near 54$.

Comment:

Comment:

Market wasn´t strong enough to break the 54$ resistance. It could retest the 50$ area for a third time. Depends strong on the general market condition. Its end of month and a lot is possible...