The reasons: 1. Low-risk entry point 2. The stock offers the first buyable base after an IPO 3. It has a very tight pivot level/line of the least resistance 4. High relative strength stock 5. Entry point at cheat area
The flaws: 1. The general market is still in correction 2. Lack of volume on the breakout today
The stock squats at the closing. However, I want to see some constructive action in the days to come.
Trade closed: stop reached
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I got stopped out today slightly below the breakeven point, a -0.71% loss.