DARKTRACE STRATEGY (Buying the dips/averaging down)
Head and shoulders formation developing here?
Already 25% invested to take advantage if it bounces/reverses at first support level and resumes uptrend - in for the longer term here as this story has plenty of room to develop - targeting 50% profit take @ 1500p (£15) per share minimum.
Early institutional investors selling/profit taking - huge volumes yesterday (IPO lockdown expiry/share doubling since IPO). This is creating a significant downward move (still plenty of buying volume though - or drop would be more rapid/precipitous - into 400-500s).
We’re about half way through the selling, so Monday will likely see a continuation of the downward trend before we meet the next support level and potential reversal point.
Volatility very high, so difficult to call anything precisely given what’s happening..looking to lock in advantage and buy remaining 75% of target investment in chunks on the way down, as far as the red baseline. Risk of temporary reversals followed by continuation of downtrend - whilst more meaningful reversal is entirely possible at any stage given the upcoming earnings/ other expected news in the run up.
Mapped out support levels/potential reversal paths (blue arrows )to determine potential directions moving forward. Strategy > buy limit orders set at or near to support levels to average down cost - down to the baseline if necessary.
Thoughts/comments most welcome. Thanks!
Already 25% invested to take advantage if it bounces/reverses at first support level and resumes uptrend - in for the longer term here as this story has plenty of room to develop - targeting 50% profit take @ 1500p (£15) per share minimum.
Early institutional investors selling/profit taking - huge volumes yesterday (IPO lockdown expiry/share doubling since IPO). This is creating a significant downward move (still plenty of buying volume though - or drop would be more rapid/precipitous - into 400-500s).
We’re about half way through the selling, so Monday will likely see a continuation of the downward trend before we meet the next support level and potential reversal point.
Volatility very high, so difficult to call anything precisely given what’s happening..looking to lock in advantage and buy remaining 75% of target investment in chunks on the way down, as far as the red baseline. Risk of temporary reversals followed by continuation of downtrend - whilst more meaningful reversal is entirely possible at any stage given the upcoming earnings/ other expected news in the run up.
Mapped out support levels/potential reversal paths (blue arrows )to determine potential directions moving forward. Strategy > buy limit orders set at or near to support levels to average down cost - down to the baseline if necessary.
Thoughts/comments most welcome. Thanks!