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Apr 27, 2021 9:42 AM

Perfect pullback setup Long

Vuzix CorporationNASDAQ

Description

Recovering from dip, still in uptrend, oscillator recovering from oversold, linear regression turning positive. All signs of good recovery. Don’t forget to place your stop.

Trade closed: stop reached

Comments
Gamehenge
Or all signs of a head and shoulders top. We're sitting at the neckline. Pivotal day tomorrow.
Trendoscope
@Gamehenge, Yeah, that’s exactly where the stop is.I have not put stop. But, have a protective put. Might have to exercise if it goes further down.
Trendoscope
@Gamehenge, another disappointment
Gamehenge
@HeWhoMustNotBeNamed, Ya, the run is over. I was long since $4 and sold at $20 (not $30). At $30, I still thought it was going to $40. But the chart made one of the most pronounced head and shoulder patterns I have ever seen. I should have drawn it and posted it. Not to mention, ARK stocks are unpopular, high flyers are getting crushed on positive earnings, and we are in a nasty selloff. Sadly, the uptrend is busted and it will take a long time for buyers to come back in to this one. you mentioned you had protective puts? I assume you exercised them?
Trendoscope
@Gamehenge not yet. have time till 21st May. I will probably sell the put and close position close to expiry. It will be almost same as exercising them.

Anyway well done catching it at $4. 5 badger is still an achievement.
Gamehenge
@HeWhoMustNotBeNamed, hopefully we find another one like VUZI. Until then, here's one for you to research - ZIM :)
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