If AVLR hits 144 I would take some profits. Already hit some key levels for me and I sold 50% of my holdings, due to uncertainty in the overall market. I may sell another 20% of my holdings if $144 is reached.
It'll be very "oversold" on the RSI and I think it has a high probability of pulling back to the original, major trendline .
Right now it seems to be forming a new trendline .
It's way above numerous Moving Averages.
It's appreciating in a market that is seeing stress, which is a good sign.
It's a "tech" stock.
It's a service that will never lose demand. More and more will use the service as it solves a real problem - filing taxes.
Taxes in the USA are complicated as heck, and so this company solves these pains with sophisticated automation.
I'll be buying back in, if it retraces a decent amount. I'm long, long term on this one.
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To add to the strength of my thesis, they are reporting major growth month after month and partnering with very large companies. Most recently BigCommerce. Fundamentally and technically things look great for this company, however, my fear is another retracement on the overall market which could naturally, cause a major correction with most stocks.
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Also I meant overbought not oversold on the RSI. I posted this late at night :)
Trade closed: target reached
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Moving all my campaigns over to another platform as soon as I can set it all up.