I rarely publish ideas on stocks because I am mainly a derivatives trader. However, whenever an opportunity arises that is too-good-to-miss, I will publish it. If you have been following me, you will know that I called AROC and VALE long (I have put the links to the 2 ideas here) and they have been working great.
SGYP came into my scan last Friday just before the market closes and I became really excited to see an opportunity like this - at the very beginning of a move! If I am wrong, the stock will move down below the low. Given that it is still early, I believe that this is a stock that is a mid-to-long term investment. It is a buy-and-hold but with a stop below the recent low. I am putting a small take-profit target but note that my view (for now) is really a longer term hold for this stock.
Also note that the move was inspired by an earnings call the day before. I don't know the details of the call but it is not important to me as an EW and technical trader. The price action tells me to long.
Comment
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Haven't been performing as expected but this is supposed to be a long-term holding until it breached the low.
Trade closed manually
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I no longer like this idea given that it is taking quite long to move up. It is up to you if you want to hold on. I am out.