I bought my positions today
January 15, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Develops a mini cup and handle with VCP characteristics
4. Dried-up volume, indicating all the selling has been exhausted
5. Huge volume on breakout
6. High relative strength stock
7. More stocks are setting up and breaking out
Flaws:
The market is still in a hard-penny environment with only 31% of total stocks above the 200-day MA
January 15, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Develops a mini cup and handle with VCP characteristics
4. Dried-up volume, indicating all the selling has been exhausted
5. Huge volume on breakout
6. High relative strength stock
7. More stocks are setting up and breaking out
Flaws:
The market is still in a hard-penny environment with only 31% of total stocks above the 200-day MA
Trade active:
I sold half into strength at a decent 10% gain today.
Trade active:
I sold another half into strength at 20% gain today.
Trade closed: target reached:
Sold my last position today at 5% gain on slippery after I set the stop at my backstop level.
Trade closed: 17/1/2024
Trade closed: 17/1/2024