RSCH - CUP WITH HANDLE
Updated
I bought the stock today
August 16, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has formed a classic cup with a nice drifting handle
4. Strong prior moves before it gone through its base formation
5. High relative strength
6. Hand in hand with the indexes making its new highs
7. More stocks start to setup constructively
Flaws:
The market is still very vulnerable to go through another corrections
I'm still waiting for some traction in the market before I start trading aggressive. Hence, I like to see some follow through action from now.
August 16, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has formed a classic cup with a nice drifting handle
4. Strong prior moves before it gone through its base formation
5. High relative strength
6. Hand in hand with the indexes making its new highs
7. More stocks start to setup constructively
Flaws:
The market is still very vulnerable to go through another corrections
I'm still waiting for some traction in the market before I start trading aggressive. Hence, I like to see some follow through action from now.
Trade active
I sold half into strength at +14% gains today.Trade active
I sold another half portion into strength for +22% profit today.Trade closed: target reached
I sold the last remaining position today at +52% gain, all into strength.
Trade closed: 27/09/2024
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