JAN on watch for bullish continuation LONG Long

JanOne Inc.NASDAQ

Description

⋅ Mar 6, 2024 7:46 AM

JAN had earnings but I cannot find the report. It is trading with heavy volume and it shows in

the price action. Price has pulled back in the after-market in a standard Fibonacci retracement.

A pullback is appropriate here as price has gained 250% in a month. I see the pullback

as healthy and JAN is now well positioned for another bullish continuation. Volatility

and volume supports the conclusion. I will set a stop loss at 10% and targets at 50%, 75% and

100% to take partial profits on an anticipated trend up. Alerts will be set onto a set of

moving averages on the 30 minute time frame to detect death cross unders. Once profit is

hits 10% I will change the stop loss to a trailing 10% stop loss and once above 75% make the

trailing loss 5% and once over 100% change it to 3% so I can let the trade run itself from

those orders.

Trade active

⋅ Mar 8, 2024 9:06 AM

Update as per linked chart

Comments

thisinvestorisnew

⋅ Mar 8, 2024 9:19 AM

Is there any good time to buy stocks? should I enter now in the premarket ?

AwesomeAvani

⋅ Mar 8, 2024 10:00 AM

@thisinvestorisnew, Prmarket is fine just eremember that trading volumes are low and volatility can be high unless you have a lot of experience do not let FOMO get the best of you. Watch the direction at the opening bell and the direction of the general market. When they are in sync that is a good time to buy. otherwise you wait for the low of day which may be in the range fo 10:30-!1:30 market time