BBAI may move higher from deeply oversold LONG
Updated
BBAI fell on an earnings miss on Thursday, March 7th. The downtrend of 30% was a
slow flush. Penny stocks are volatile, to begin with; this one is in the hottest of subsectors.
Price is in the hard oversold area just below the first lower VWAP line on this 15-minute chart
which is acting as resistance. the RSI lines are in the 30s-40s showing the price weakness. A
predictive forecasting algo from Luxalgo suggests move up.
I will buy this weakness on the prospect things will improve. I will take a long trade with tiered
targets on the chart. partial closures of 25% , 50 and 25% respectively with the targets shown on
the chart. The stop loss is 2.00 just below the current price. The entry will be a limit order /
buy stop set for 2.5 It is selected as a POC line crossover on the volume profile.
The trade is to be managed with partial closures directed by alerts and notifications as well as
a trailing stop loss of 5% once the price gain has reached 10-15%. This minimizes effort and
screen time so that they can be spread across a wider variety of trades.
slow flush. Penny stocks are volatile, to begin with; this one is in the hottest of subsectors.
Price is in the hard oversold area just below the first lower VWAP line on this 15-minute chart
which is acting as resistance. the RSI lines are in the 30s-40s showing the price weakness. A
predictive forecasting algo from Luxalgo suggests move up.
I will buy this weakness on the prospect things will improve. I will take a long trade with tiered
targets on the chart. partial closures of 25% , 50 and 25% respectively with the targets shown on
the chart. The stop loss is 2.00 just below the current price. The entry will be a limit order /
buy stop set for 2.5 It is selected as a POC line crossover on the volume profile.
The trade is to be managed with partial closures directed by alerts and notifications as well as
a trailing stop loss of 5% once the price gain has reached 10-15%. This minimizes effort and
screen time so that they can be spread across a wider variety of trades.
Trade active
Scooping from the bottom of the high volume area looking to target its top.May have NVDA tailwinds.
Trade active
BBAI is oversold and the AI sctor may be experiencing a rotation. PRice is at the bottom of the historical high volume area of the past 1 1/2 years. I see this as a good entry for another logn trade. The risk is high; the reward could be 100-200%.I will set a stop loss of 50% and take a small position.
Note
Stop loss 0.75 T1-2.50 T2-3.50 T3- 4.25 ( 25%, 50%, 25% respectively)Trade active
Solid move today with patience rewarded.
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