Due to the current crisis, I have been focusing on relative strength names to take long positions. The choice of choosing relative strength names to buy is imperative in the current market conditions; while there are a lot of companies suffering from the current crisis, there are also companies flourishing. My current holdings, DOCU and KR, are both strong relative strength names and I am continuing this trend with SE.
SE ran past all time highs last week and in currently consolidating in a flag pattern. This pattern is called the First Flag as a stock that recently broke out creates a flag pattern right above ATH. SE broke out today and I bought SE into the pullback at around 12:00.
Entry - 55.16 Stop loss - 53.45 Target - 61
Trade closed: stop reached
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Markets whipsaw forced me out of this position this morning for a full stop at 53.45.