I think STON is a "potential" breakout . In particular, I say this because of the technical signs. Pay attention to those unusually large buying volume candles and also notice that those holders are still in the trade and have not sold ( there's very little supply being introduced recently) .
That stands out as bullish to me and even more interesting is that on April 14th, an insider took a considerable position too, 5,522,732 shares to be exact . The share price is lower, so the risk vs reward adds up quickly . I've set my risk at 11.66% and that is only the base of todays candle which is one thing that I don't really like about this trade . For example, it would be much nicer to set my stop under 1.64 support but that is over 26% risk which is way too much for a single trade . So , I took a comparatively smaller position to mange the risk and odds and lets see how it plays out ..
Good Luck , Tight stop ..
Comment
⋅
Overall , a fairly tough market day today but STON is showing great relative strength .Positive .
Comment
⋅
Ston is lacking volume , updated stop to 2.14 to respect risk
Trade closed manually
⋅
sold this to lock in some profits, good possibility of a distribution day tomorrow given todays close, but I will be watching and will re-enter if it looks good tomorrow ...
Comment
⋅
waiting for re-entry on 5 min
Comment
⋅
Back in at 2.51 , stop now at 2.40
Trade closed manually
⋅
This looks weak, closed the trade for a small loss .
I noticed this one too after browing Finviz. I might take a position as well.
NAK1987
⋅
@shiftingskys, Yea finviz is good stuff , the trading view screener is really good too but I typically use finviz as well . Well, hopefully we see a continuation of today tomorrow , I am a little concerned with the QQQ in the near term , if QQQ takes a breather we might see this affected negatively regardless of the good signs. At this time futures look green but I was pretty close to buying some defensive SQQQ today , decided to reduce some holdings instead and go partial cash . Cheers~
BeardedSince
⋅
I saw this yesterday and took a very small postion as well. I agree with you though def seems like its ready for a move.
NAK1987
⋅
@BeardedSince, Thanks for the input , yea I spend alot of time looking for unusual volume amc and then I assess the rest . Good way to do the initial homework for breakouts/buys for sure . Let's see how it plays . Good luck to ya .