Went long this one today at 27.02. The whole rare earth producer sector is a buy for me today. I chose USAR because its daily returns for me have been the best of any, though I am long two others as well.
USAR is in a 1 year uptrend, and above its 20, 50 and 200 day moving averages. Historically, pullbacks in this scenario have resolved quickly and with significant moves. The longest any trade took to resolve in the last 13 months here was 10 trading days, but more than half closed in 3 days or less. Obviously, no guarantees here, but 8 of the last 10 trades have also produced wins of 5% or greater. You can understand why I like this setup, given those numbers.
There is some support but it is 20% below the current value, so I would not consider it relevant at this point.
If the trade continues beyond tomorrow, adding and subtracting additional lots tactically will be a key part of the management of the position. Profit target 1 is +6% intraday. Otherwise, I will close the lot at the close of the first trading day where the trade would close at a profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
USAR is in a 1 year uptrend, and above its 20, 50 and 200 day moving averages. Historically, pullbacks in this scenario have resolved quickly and with significant moves. The longest any trade took to resolve in the last 13 months here was 10 trading days, but more than half closed in 3 days or less. Obviously, no guarantees here, but 8 of the last 10 trades have also produced wins of 5% or greater. You can understand why I like this setup, given those numbers.
There is some support but it is 20% below the current value, so I would not consider it relevant at this point.
If the trade continues beyond tomorrow, adding and subtracting additional lots tactically will be a key part of the management of the position. Profit target 1 is +6% intraday. Otherwise, I will close the lot at the close of the first trading day where the trade would close at a profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Note
Boy I'm sure glad I chose to enter this trade on the afternoon before a market meltdown, lol. Oh well, these things happen. I'll just have to manage it well. Added lot 2 for 22.40. Lots held
Lot 1 - 27.02
Lot 2 - 22.40
Note
Sold lot 2 at the close for 23.02 -- a +2.45% gain in 6 trading days. Lots still held
Lot 1 - 27.02
Note
Added 1 lot at the close for 19.15Lots held
Lot 1 - 27.02
Lot 3 - 19.15
Note
Lot 3 gone at 19.75 - +3.13% in 1 trading day.Lots still held:
Lot 1 - 27.02
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.