Flags. Pennants. Uptrends. Super performers. We like that right?
See information on the company below
This stock broke out on the Weekly time frame, so it is a confirmed long (I went long on Thursday before the 3 day weekend and will add on weakness in the coming days). Stocks that breakout just before a three day weekend says a lot about the hands holding them.
Every breakout (BO) generated staggering performance from the BO point to its new all time high, as shown here:
There are several ways to formulate targets on price structures like this one:
1) Hold until the lows are breached (this is how a trade turns into an investment or a position trade, which is generally recommended for the non-active trader). Notice the previous lows were never breached in the uptrend since the company went public in 2017. The best performing stocks do not breach previous lows for a very long time. This is how the best returns are made for 99.x% of people.
2) Fib extensions... 1.618.
3) Apply a short term moving average and sell when price breaks below that average (look for one that makes sense to you). Here is an example of a 10 3DMA:
This worked very well to take profit in the prior breakouts while avoiding a consolidation period.
These are just a few. My plan is a combination of 1 and 3 with multiple layers of entries.
The company was private from 1998 - 2017. It already did a 10x since it went public on November 2017. If you take a look at its website, you'd never guess a company like this could perform so well. www.acmrcsh.com/
I've attached their investor presentation here if you want to learn more: ir.acmrcsh.com/stati...5a-aceb-5b74884b1748
This stock broke out on the Weekly time frame, so it is a confirmed long (I went long on Thursday before the 3 day weekend and will add on weakness in the coming days). Stocks that breakout just before a three day weekend says a lot about the hands holding them.
Every breakout (BO) generated staggering performance from the BO point to its new all time high, as shown here:
There are several ways to formulate targets on price structures like this one:
1) Hold until the lows are breached (this is how a trade turns into an investment or a position trade, which is generally recommended for the non-active trader). Notice the previous lows were never breached in the uptrend since the company went public in 2017. The best performing stocks do not breach previous lows for a very long time. This is how the best returns are made for 99.x% of people.
2) Fib extensions... 1.618.
3) Apply a short term moving average and sell when price breaks below that average (look for one that makes sense to you). Here is an example of a 10 3DMA:
These are just a few. My plan is a combination of 1 and 3 with multiple layers of entries.
The company was private from 1998 - 2017. It already did a 10x since it went public on November 2017. If you take a look at its website, you'd never guess a company like this could perform so well. www.acmrcsh.com/
I've attached their investor presentation here if you want to learn more: ir.acmrcsh.com/stati...5a-aceb-5b74884b1748
Trade closed: target reached:
trailing stop triggered on Monday at 77.90
Comment:
July 6th, Tuesday*