As shown, beautiful correction taken place as expected. Will create amazing buying opportunity once done. Will need to monitor and take action when necessary. Everything is getting beatdown at the moment.
Trying out posting a trade here...see if I like doing so.
Took this position a little after market opening today. Target is quite low. Will be watching this closely.
I look to trade in the direction of weekly pivots. These are stepping down for the last three weeks. Trading with this trend dictates a short sell.
So far in 2022, most of my positions have been shorts.
On TD the contract price was 0.45 and so I decided to just enter 0.6 and to my surprise the order got filled immediately.
I think next time I will start with a high Ask price and slowly bring it closer to the Bid
Whats The Plan/Trade/Thought
This position is a play on the micro economics and less on the health of the company
There will be an interest rate...
Long $RVLN CMP $83.21. Nice uptrend. Support around $$75 area. Recent breakout from the support area. Stock has seen some good positive movement after recent earning report. MACD green but little fading, maybe due to recent market sell off. Taking support at 20SMA. Target $92 area.
VolOp Launch
This is the first trade where I adjust my position sizing to account for the rising volatility in a ranging market that seem to have deeper drops whenever there are issues.
I call this stance in my plan "VolOp" and while it results in a 1% drop in my monthly target. It should weather my contracts better. This current adjustment is mainly based on...
$RVLV Had an earnings surprise of 130.8% and a revenue growth of 400%! It's breaking to ATH's here. Looks like a real growth story so I've opened a position here. You can see the entry on the chart with a stop below today's low. If it can't hold today's low I'm wrong and gone.
From earningswhispers.com
Revolve Group (RVLV) Reports 1st Quarter Earnings
Revolve...
What Is a Short Squeeze?
A short squeeze occurs when a stock or other
asset jumps sharply higher, forcing traders who
had bet that its price would fall, to buy it in
order to forestall even greater losses. Their
scramble to buy only adds to the upward
pressure on the stock's price
KEY TAKEAWAYS
*A short squeeze accelerates a stock's price rise
as short-sellers...
#RVLV, a 1.5-year-old company, certainly promising, has formed a classic picture, like that of #SNAP, #PINS, #TWTR - entering an IPO, going into correction, forming a reverse GUI, forming a second reverse GUI in the right shoulder, which gives double reliability of entry , a breakdown of the neck level, and at the same time a strong level (lilac color). The...
While everyone was busy getting bearish today, this thing had a clean breakout. Really like this one long. Wouldn't be surprised to see it double this year.
