YALA is growing fast mostly in the Arab nation vs other social media and I think it has the potential to triple in the next 3 years if they continue to grow. Don't know their financials but I know it is becoming popular.
YALA, ANBN, or PLTR are some of the mid-risk high reward stocks (recent IPO's) I am watching for a long-term hold. Thinking of selling some OTM...
My screener says that YALA is in the entry zone.
That helps in the corroboration of my analysis.
However, plan your trade and work the plan.
A close above $25.20 means I will add the next portion of my full position. I average in going up and do not average down.
$25.29 is my entry.
Laid out my plan for YALA earlier.
This is a volume shelf play. I may have entered at the wrong time. Did not wait for the close above $25. Could be my mistake. Setting a tight stop loss.
If the IHS is correct, then the best day to pick up YALA is EOD Wednesday (this is the ideal time, in my opinion) or sometime on Thursday.
If the IHS is incorrect, the entry may be less ideal, but safety first. Wait for the pattern and the chart to set up.
Be prepared with alerts or accepting EOD price on Wednesday or whatever price you get on Thursday.
Technically interesting trade. The formed classical H&S had all the chances of being broken, and it happened because there was a strong anti-pattern. After that, the reverse H&S was formed, and yesterday his neck was breakout, and at the same time the right shoulder of the classic H&S was breakout, which is considered a strong signal to the long - there are a lot...