SelectQuote(SLQT) Pivot and confirmation, quick trade - 10%-17%
SLQT IPO came out recently, and went up to a high of $29! Then, like many othe IPOs, people start taking gains, or start shorting it, and we ended up at the bottom around $19.00. I circled what I thought the Pivot point to be, as it had way above average volume that day, with a very long tail, and we have confirmation with a huge bullish candlestick leading the way on Friday.
I printed 3 target prices, being just Fibonacci retraces - I don't expect to go all the way to 100%, but if we do get there, expect to go higher!
First cash out is 10%, then 17.5%, and 27% gains! Unless you decide to hold onto this stock, this should be a quick trade.
Stoploss at $17 for the long trade, adjust accordingly for the shorter ones.
I printed 3 target prices, being just Fibonacci retraces - I don't expect to go all the way to 100%, but if we do get there, expect to go higher!
First cash out is 10%, then 17.5%, and 27% gains! Unless you decide to hold onto this stock, this should be a quick trade.
Stoploss at $17 for the long trade, adjust accordingly for the shorter ones.
Comment:
Tearing it up so far!
Comment:
We're at 5% so far, one strong bullish candle so far!