The reasons: 1. Low-risk pivot point 2. The stock offers the first buyable base after an IPO 3. Explosive run, up +300% after the IPO 4. The correction/pause has VCP characteristics 5. Volume dries up, indicating supply stopped coming to the market
Flaws: 1. Stock closed squat 2. Lack of volume on the breakout
So far, it acting normal. I like to see some constructive action in the upcoming days.
Trade closed: stop reached
I get out at the breakeven today.
Lesson: I sold very quickly to secure my capital after a 12% run when I should at least sell half at breakeven and half at the OG stop.
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