P2AT34 trade ideas
$PATH Looking for IPO Base BreakoutPretty simple here. Looking for $PATH to break above it's IPO high of $83.39. I have an alert set at $83.50. Ideas, not investing / trading advice. This is an IPO so if you trade this trade small with a wide stop, IMO.
PATH (1 HOUR TIME FRAME) General AnalysisUiPath Inc. is a recent IPO in 2021 that like most IPOs experience a fast rise and a subsequent sell off. Personally I think there is still a lot more data that I would want to see in terms of price action before I could say one way or another which way it will go. Currently priced at about $70, PATH finds itself right at the MEAN when we look at our 1 hour timeframe ATR Keltner Channels.
It will be interesting to see how things shake out for PATH in the coming week at which time I believe PATH will express through its price action what direction it wants to take. A key support level is $65.63. If PATH significantly breaches this price point we must take another look at our thesis to go long and may even look for higher prices to short PATH. If PATH does hold this support on it's next MEAN regression down then the prices listed above could give guidance as to where some buy opportunities are located.
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Trading Idea - #UipathUiPath, Inc. is an automation software company. The company offers an end-to-end platform for automation that combines the Robotic Process Automation (RPA) with a range of features that enable any organization to scale digital business processes. The company's platform is designed to transform the way people work.
1. BULLISH Scenario: Rejection at the short-term support level towards 78.00 USD
2. BEARISH Scenario: continuation of the downward trend. Short target: 65.00 USD
$PATH is giving a GREAT IPO LONG opportunity todayIPO intraday trading strategy idea
Uipath makes software that helps automate business tasks, and sets itself apart from rivals by allowing employees without coding experience to customize artificial-intelligence capabilities.
The share price is rising and gonna continue this trend today.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price today.
So I opened a long position from $66.70;
stop-loss — $63.95 ;
take-profit — 75.00/MOC price.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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