The reasons: 1. Low-risk entry point 2. The stock is up >100% in less than 8 weeks 3. Corrected the least during the pause, less than 25% correction 4. Volume dries up as a sign of less supply coming to the market 5. High alpha stock with a low standard deviation 6. It has VCP characteristics 7. Huge volume on the breakout 8. The theme: Power play. The setups work well in this current market environment
The flaw: No identifiable flaws thus far
This is a textbook Power Play stock breaks out of a base. I like to see the stock moves constructively in the upcoming days.
Trade closed: stop reached
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Unavoidable slippery, I can't get out immediately. I got stopped out big at -10% and another half at -28% loss.