PUBM: Growth stock. Bounce candidate. Why? 1. We retraced 78% of the move that started in October. This level is good to initiate a long trade because it allows you to place a stop loss not too far below the line. 2. Demark Sequential is on a 9 daily. (More details below on Demark indicators) 3. RSI is low and at a level where we have seen substantial bounces in the past.
Depending on how markets open, I will look for a long entry around the current level. Swing trade. My initial target will be 30-32, then I'll reassess. The success of the trade will depend on how Nasdaq behaves so I'll be careful and monitor the indexes closely. I also like the fundamentals of this company for long term so I might consider a long term investment as well.
Note: DeMark Indicators are designed to anticipate turning points in the market. A Buy Setup occurs when there are 9 consecutive closes less than the close four days earlier.
Trade safe!
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in at 25.3 partial position
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full position. Long term play.
If you're in, all you have to do now is let it run with a stop below 26.32.
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We got a nice bounce after my signal. But the bounce was short lived. Got stopped out, my stop was a bit too close. I'm looking to re long.