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JS_TechTrading
Oct 10, 2023 2:15 PM

1COV added to model portfolio Long

COVESTRO AG O.N.TRADEGATE

Description

Covestro has just been added as a 12.5% position to our model portfolio.
Some comments:
1. 7/8 qualifiers of Minervini's trend template are met and the stock is in a confirmed phase 2 uptrend.
2. Stochastic RSI are indicating an entry coming our of an oversold position.
3. This is a pullback entry following a healthy pullback over the last 2 weeks under low volume which allows for a low risk entry.
4. Relative strength of 1COV as measured against the SP500 is very high which makes that a momentum trade.

Here is the link to our updated model portfolio:
tradingview.com/watchlists/113058579/
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