BIKE - CUP WITH HANDLEI bought the stock
July 8, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has defined a classic C&H formation
4. It moves strong in the opposite side of market direction in its cup development
5. High relative strength
6. Huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment with only 23% of total stocks above the 200-day MA
2. Very less stocks setting up a buy-able area
I'm still trading small until I see some traction in the market. Hence, I like to see some follow through action from now.
BIKE trade ideas
BIKE - POWER PLAYI bought my positions today
August 28, 2023
The reasons:
1. Low-risk entry point
2. The stock is up >100% in less than 8 weeks
3. Corrected the least during the pause, less than 25% correction
4. Volume dries up as a sign of less supply coming to the market
5. High alpha stock with a low standard deviation
6. A base reset to a proper and crisp pivot on PP setup
7. Huge volume on the breakout
8. The theme: Power play. The setups work well in this current market environment
The flaw:
No identifiable flaws thus far
