I bought my positions today
January 8, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through a majority line of supply
4. Dried-up volume, indicating all the selling has been exhausted
5. Huge volume on the breakout
6. Strong fundamental basis with triple digit percentage earnings
Flaws:
1. The market is still in a hard-penny environment with only 31% of total stocks above the 200-day MA
2. The index is moving higher but there are still less stocks setting up.
I like to see some follow through action in the upcoming days
January 8, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through a majority line of supply
4. Dried-up volume, indicating all the selling has been exhausted
5. Huge volume on the breakout
6. Strong fundamental basis with triple digit percentage earnings
Flaws:
1. The market is still in a hard-penny environment with only 31% of total stocks above the 200-day MA
2. The index is moving higher but there are still less stocks setting up.
I like to see some follow through action in the upcoming days