Anybody want to analyze this chart? I bought what I’d consider a half position, looking to buy more on pullback. But I think I made a mistake. I should’ve been patient and waited for it to consolidate at around $67-$68. I think I chased it. Am I correct? what would you do with this chart? Is it a good setup, or a watchlist stock?
I think you did. The area to buy is at consolidation phases. When it breaks out, set a stop loss immediately, at the resistance area minus say $0.10, say resistance is a $60.13. Set stop loss @ $60.03 GTC. If you bought at $60.50, your risk is $0.47. Initial target 2/1 is $60.50 + $0.94 = $61.44, 3/1 is $60.50 + $1.41 = $61.91. It is now $73.48. This is why trailing stop losses make more sense as this stock has run up quite a bit.
%% TECH trends + semi stocks are the wildest trends. I do tech trends ETFs more so than semi stocks ETFs. May never base around $67-68+ can easy go to $47 . It has had 2 topping tails [3-3-22]on day candles[looks likes an upside down ''T''] But if wanting a profit signal. IF it was an ETF i would get back in get back in, after selling on the next topping tail/ assume it will make another one eventually?? A good trend will disregard a topping tail; so that a disadvantage of profit targets/signals.
Ok, yeah I thought so, this is a good way to learn. Opportunity knocked to get out at no loss, sold at $74.00 lesson learned (I think) with a profit (a minuscule profit but a profit). on my watch list for a pullback
Tough call. I've chased too many of those before. Yesterday's bull day may be short lived and I would wait until the next correction before getting in, somewhere around 60, and ride it to 70+. But I'm a noob
%% Actually that one is better than average uptrend,KGT4.777 I'll comment on SMH[sector] + QQQ. I trade QQQ, qld + TQQQ much more than SMH but they are in QQQ [NVDA >4%.....] Looking back in old IBD newspaper. SMH + SOXX , QQQ .....made the top % gainer for that week. SMH,SOXX made over 8% that week ; QQQ about 3% QLD about 6%/ TQQQ about 9%. Even though most of those are a bit below 200dma [bear trend]; on 52 week / acceptable uptrend, [WEEK of 3-19-21 thru 3-19-2022] Semi sector + QQQ/ TQQQ are better % gainers than average , but wilder. QQQ is till up nice uptrend as of 10;16,CST,Thur MAR 23/2022. SDS is up better today [10:18,cst]/ but QQQ is up better for week. Back to my charts. Good semi+ QQQ uptrend