Hello Traders,
SuperMicroComputer, the bull stock, has been making new ATH`s in a row since the impulsive move at $276.- started on January 03!
The first time I analyzed this stock was on December 17 and I saw a possible massive breakout to new highs ahead!
That is exactly what has happened since then! Yesterday the stock closed at $663.35. The pre-market is now looking at a price level of 678.76!
Traders who followed this idea had a great trade. (The grey arrows marks the entry-level and day of analysis)!
I took ⅔ of my position off the table this morning and made one of my best trades ever! (That much self-praise is necessary)!
But what can we expect from this stock in the coming days?
Well, nothing goes forever, and in my opinion the rise is not over yet. But the air is getting thinner and thinner after rising to these levels.
Buying a stock at ATH levels is a psychological problem and requires a lot of courage to do so! But remember! Doing so, more often than not, offers excellent chances for rising price!
The general question is: "Where to set the stop-loss level to protect your money?
One option is to watch the chart and wait until a "three-down" is clear on a daily basis. Then jump in and set a close SL level below the recent low!
I will check the chart constantly and give you some news for a possible trading opportunitie!
The count is valid!
Have a great week .....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
SuperMicroComputer, the bull stock, has been making new ATH`s in a row since the impulsive move at $276.- started on January 03!
The first time I analyzed this stock was on December 17 and I saw a possible massive breakout to new highs ahead!
That is exactly what has happened since then! Yesterday the stock closed at $663.35. The pre-market is now looking at a price level of 678.76!
Traders who followed this idea had a great trade. (The grey arrows marks the entry-level and day of analysis)!
I took ⅔ of my position off the table this morning and made one of my best trades ever! (That much self-praise is necessary)!
But what can we expect from this stock in the coming days?
Well, nothing goes forever, and in my opinion the rise is not over yet. But the air is getting thinner and thinner after rising to these levels.
Buying a stock at ATH levels is a psychological problem and requires a lot of courage to do so! But remember! Doing so, more often than not, offers excellent chances for rising price!
The general question is: "Where to set the stop-loss level to protect your money?
One option is to watch the chart and wait until a "three-down" is clear on a daily basis. Then jump in and set a close SL level below the recent low!
I will check the chart constantly and give you some news for a possible trading opportunitie!
The count is valid!
Have a great week .....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.