PDPP (VCP - 6W 14/4 3T)
Updated
I bought my positions today
July 11, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through its majority line of supply
4. Moving on its own drummer, the stock went up +88% while the index gone sideways on ytd.
5. High relative strength
6. Volume dries up as less supply coming to the market
7. A huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment, not much confirmation from the momentum stocks with only 23% of total stocks above the 200-day moving average
2. Very few stocks setting up at this time
I like to see some follow through action from now.
July 11, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through its majority line of supply
4. Moving on its own drummer, the stock went up +88% while the index gone sideways on ytd.
5. High relative strength
6. Volume dries up as less supply coming to the market
7. A huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment, not much confirmation from the momentum stocks with only 23% of total stocks above the 200-day moving average
2. Very few stocks setting up at this time
I like to see some follow through action from now.
Trade active
We got one violation here with three lower-lows and a reversal on a fourth day, I consider it normal. We'll see what happen next.Trade closed: stop reached
Stopped out at -6% loss today.Trade closed: 22/7/2024
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