As they say, "When you don't know what to do, just copy Burry."
He bought at a much higher price than where we are at now and it's at this long term support line, so it seems like a good spot to buy.
I got in at $55.40 and I have two targets, a 10% gain that is around where Burry's average is from last quarter and my ideal target between $65-68.
Stop is a 4.87% loss at $52.69, which gives a nice risk/reward of 2 if the first target is reached.
He bought at a much higher price than where we are at now and it's at this long term support line, so it seems like a good spot to buy.
I got in at $55.40 and I have two targets, a 10% gain that is around where Burry's average is from last quarter and my ideal target between $65-68.
Stop is a 4.87% loss at $52.69, which gives a nice risk/reward of 2 if the first target is reached.
Comment:
BKI is sneaking though the resistance, let's do this Burry!
BKI is sneaking though the resistance, let's do this Burry!
Comment:
Raised stop to 53.98 with the breakout of the blue line on Friday.
SPY is showing topping signs though, so I expect weakness in BKI too while that happens.
SPY is showing topping signs though, so I expect weakness in BKI too while that happens.
Comment:
I lowered the stop to 53.48. There's some positive divergence and I don't want to get stopped out. Hopefully can hold until earnings and hopefully earnings will bring some positive movement, if not earnings will probably be the end of this trade.
Trade closed: stop reached
Here's zoomed in chart of some smaller scale resistances to keep an eye on and also some potential paths that I think it will follow.
There's also some RSI divergence which is a good sign.