CCLD CareCloud an IT/AI pennystock rising LONG
Updated
CCLD is shown on a daily chart with the only indicator being a volume profile. Horizontal lines
are drawn from some prominent pivots. As a microcap CCLD has more volatility than the big
name IT/AI stock. It also has upside as it is currently priced at 15% of the all time highs in 2021.
The initial target is 3.5 based on the low volume consolidations of the whole year of 2019
and May 22 to May 23. A higher target is 7.0 which corresponds to a volume void to be filled.
This is a risky but potentially highly rewarding long trade. Buying when price has risen from
extremely oversold into the high volume area of the long-ranged volume profile helps diminish
that risk.
are drawn from some prominent pivots. As a microcap CCLD has more volatility than the big
name IT/AI stock. It also has upside as it is currently priced at 15% of the all time highs in 2021.
The initial target is 3.5 based on the low volume consolidations of the whole year of 2019
and May 22 to May 23. A higher target is 7.0 which corresponds to a volume void to be filled.
This is a risky but potentially highly rewarding long trade. Buying when price has risen from
extremely oversold into the high volume area of the long-ranged volume profile helps diminish
that risk.
Trade active
CCLD moved higher with volume. Stop loss raised to just above break-even. Risk free trade now.Note
Price is 80% off the ATHs. Position is over 1000 shares. When there is a pop of more than 5% in a single day. I take off 10-20 shares. when there is a drop of the same magnitude I add back 10-20 shares. Expecting a trade duration for at least the remainder of this year. At price > 3.5 I will take off 25% of the position and again
at price > 7.
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