NASDAQ:TTNP Hi, friends! It's been a long time, hasn't it? My investment fund management training is over. It's been very difficult, but it's over and I'm happy) There is still a lot of work ahead, of course. Nevertheless, I plan to get back to writing posts on this platform. For now, let's start with weekend posts so that many of you can read, analyze what I' ve written and make up your own minds.
Here we go! Next week's candidate is penny stock. Many people underestimate cheap stocks, thinking they are difficult to trade and manipulated. Yes, it happens. But cheap stocks are a godsend for the beginner, and as I see it, there are a lot of beginners on this site. Well, let's get started.
What's on the chart: 1. The price is down more than 60% since August. That's good for us. 2. On November 5th, the fall was stopped. On November 6th, the fall began to be bought back. What does this tell us? A big long player has appeared in the stock. 3. From November 19th till December 1st, there was an opposition between the long and short players. On November 20th, the long player tried to take the shorts' SLs. But it did not work, the stock was sold and driven into the short zone. 4. From December 1st through February 9th we were drawn into a parabolic curve. This tells us that the long player is accumulating positions for a further move upwards. 5. February 1st - a false breakout on high volume. Short's SLs are being taken off. 5. February 9 and 10 - a false breakout by two bars. But the paper does not fall, so ask yourself why? After all, after such a formation, the fall should have been necessary. 6. On February 12th - the paper is bought again. 7. You have to understand that the hike up may not happen soon, but it will definitely happen!
My strategy: 1. Entry on breakout of the resistance level. SL behind the breakout bar. Your SL must be placed only on the parameters of your strategy! Your TP also!
There was a natural drop after the split, you only need to look at TSLA or AAPL to see the same thing. And look at TSLA now... I think this thing has big upside potential.