With strong support seemingly found around 3p mark... great sponsor announced, #bitstamp... we will now see this climb back up towards 8p+. Will need a steady stream of positive sponsor and content news to ensure this steady growth to where it belongs... stay strong, hold onto this stock, it will fly when ready.
I opened a position at 4.43p. It is now trading at 3.6p , with no major support line. Should I pull out once it gets back to 4.43p?
mjtrad25
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@George517, depends what your goal is. If just short term profit then get out because it may be a few weeks before we get more positive news. I believe that we have significant support at 3p... as proven in recent weeks... the stock is trading way below IPO price of 8p... They have a great strategy in play in terms of sponsors and content planned... backed by David Beckham... huge growth potential in the esports sector over next few years... I am holding long term, but will take profits at certain levels around 5p and 8p when it hits... the fact that they have secured £4.5m shows their intent, that gives them great operating cash flow to sign big names and grow as a significant e sports company and team...
Make sure you do your own research, I am not guaranteeing anything...
George517
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@mjtrad25, Yes I am actually a 15yr old xD so most trades I do are for the long term. I as wondering, how would I take profits at certain levels ? Would I have to close the position or would I have multiple positions and just close each one at the specific price level- ie)5p
I was also comparing other esports stocks like GFINITY and they haven't really done too well. So hope you are right about the future of the esports sector.
Should I pull out once it gets back to 4.43p?