katblat

$MVIS - playing cup and handle with tight stop loss

Long
katblat Premium Updated   
NASDAQ:MVIS   MicroVision, Inc
I am just playing the chart and indicators on this stock.
I do not know much about the company.
I am seeing the classic cup and handle formation setting up.
I am in a small swing trade with tight stop-loss since it is not a company I know.
I played options on the first run up and exited with 22% gains (entered Jan 6, exited Jan7)
I entered my new position (swing trade) around the $6.95 mark Jan 15 and have a tight stop-loss at $9.48. I will exit at $11.50.
Risk $0.50 to make $1.50
Should it pass $11.50 I will move stop-loss up to $11.50 and continue to increase it as long as the stock continues to go up.
Let's see how it performs.


Classic cup and handle formation
The "classic" cup and handle pattern has at least a 30% increase, followed by no more than a 30% decline, then finishes the cup over the span of at least 1 month.
The handle will be a pullback of around 5% followed by a rally
Comment: should say "a tight stop-loss at $6.48"
Comment: Still in this. Upped my limit sell to $9.50 / share
Holding ascending triangle

better not bitter
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