After 45% Profit On Last Trade, I Am Re-entering UMACTrading Family,
On our stock trades, using my new liquidity indicator, we have been solidly beating the market with a cool 15% profit since our first trade with it. If you had held the SPY from the same time, your profit would have been a more meager 6.5%. Our indicator is proving beneficial, to say the least. And the last time it gave me a buy signal on UMAC, we banked 45% in profit on my last exit. I then determined that if it did not give me a sell signal (it hasn't), I would look to re-enter at that 7.66 level. We have reached that level, and I have dipped my toes back in at 7.94. I would look to double up my position if we drop even further to that 6.44 level, but I don't know that we will. My target of 11.76 will give us another 48% profit on this trade, and I have a SL set at 6.18 for a nice 2.17 rrr.
Let's go!
Stew
UMAC trade ideas
UMAC - US Drone Company - Massive Growth Potential!Unusual Machines, Inc. is a development stage technology company, which engages in the provision of drone solutions with a focus on first-person view (FPV) technology. It offers products to entertainment, recreation, and competitive racing industries. The company was founded on July 11, 2019, and is headquartered in Orlando, FL.
This is a high risk idea - keep this in mind!
Shares float: 4.755M
Recent Passive Stake of 450 000 shares on August 1, 2024
Breakout Zone: $2.20 - 2.30
Action: If the stock breaks above this area with strong volume, it might signal a continuation of the upward trend.
Overall Market Sentiment:
Currently, the market seems to be in a correction phase. It’s crucial to consider this sentiment when making trading decisions.
Resistance Points:
$2.30
$2.80
$3.30
$3.70
Surpassing these levels could signal a positive trend. Consider taking profits at these stages to realize gains.
Trading Strategy:
Take Profit (TP): Set a target at $4.40 after we might forming a cup and handle pattern with a second target at $8.00 (highly speculative)
Stop Loss (SL): Set at under $1.50 or if you want to give some more room under $1.00 to mitigate potential losses.
Chart Analysis:
Please refer to the attached chart for detailed analysis of price trends and movements.
Trading Advisory:
Exercise caution and consider market conditions and your own risk tolerance when trading. It's advisable to conduct comprehensive research or consult with a financial advisor before engaging in trading activities.
Disclaimer: This content is for informational purposes only and should not be considered financial advice.