UAVS OVERSOLD LONGStock is very oversold with a gap to fill. No position yet, will likely open a long position soon, possibly today but want to watch to see if I can get a better price maybe 0.15 - 0.17 but won't wait around too long to take action. Target is 40%-60% upside but even 15% or 20% from these levels would be very nice. I am always ready to take profit if a trade goes my way. I am not looking to hold these penny stocks for very long. Simply looking to try to capitalize on oversold stocks while the penny stock market is heating back up. I like oversold opportunity because since the stock is so highly oversold it is likely there will be some sort of bounce and if the stock turns hard to the upside, it is easier for me to manage the trade than when chasing a stock the crowd has already found. My strategy is usually to take partial profit early, on the first big bounce and then set a stop loss not too tight to see if it can get more upside but will never hesitate to sell whole position, secure profit and move on if it feels like it is losing steam and will likely not make another entry if the stock continues high than from where I took profit. Also will not hesitate to cut my losses if the trade does not work out how I planned. In my opinion that is the key to not getting burned in this very fast moving market.
