$ACVA Breaking out of Resistance Area

jaxdog Updated   
NASDAQ:ACVA   ACV Auctions Inc.
Auto auction business on-line. Looks like this could be a winner. I've yet to open a position although I do have a limit order in and I'd like it to fill. This looks like it's now building the right side and could have a nice move, all TBD. Thought I'd post it as you might want to add this to your watch list... Ideas, not investing / trading advice.

From earningswhispers.com

Acv Auctions Inc Cl A (ACVA) reported a 3rd Quarter September 2021 loss of $0.16 per share on revenue of $91.8 million. The consensus estimate was a loss of $0.17 per share on revenue of $87.7 million.

The company said it expects fourth quarter revenue of $83.0 million to $86.0 million. The current consensus revenue estimate is $85.09 million for the quarter ending December 31, 2021
This can also be considered it's first IPO Base...
Trade active:
Started a 1/3 size position on the morning pullback. My stop is just under the horizontal support / resistance line on the chart. Very defined and low risk here.
Trade closed manually:
Closed for a scratch trade. Back on watch list

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