$MRVI IPO Base Breakout Watch List

NASDAQ:MRVI   Maravai LifeSciences Holdings, Inc
$MRVI is a fairly new IPO and looks like it is in it's first IPO basing process. The proper buy point would be a break out of the highest high with volume . I like early entries so I've set an alert a little lower as it surpasses the most recent high. If the market is good and it alerts me, I'll be looking for a logical entry where I can define my risk. $MRVI reported earning on May 10 of which I posted the results on the chart.
Ideas, not investing or trading advice.
Trade active: 5/14 started a 1/2 position at $37.55 early breakout. Tight stop below yesterdays low of $36.32. Using the 1/2 position size and tight stop because this is an early entry and has a higher risk of failure than the proper breakout of the top of the box area. I'll use the proper breakout to add to the position if it looks right. All TBD.
Comment: 5/18 Just added 50@ over $40 on traditional breakout. Stop on this tranche is today's low.


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