Trend Continuation On a Breakout - ZI
Caught an alert on CT Chat. Upon looking at the charts, I immediately thought breakout trend, buyers are in full control. The yearly showed me the standard cup and handle breakout formation. The 5 minute chart showed me an uptrend well above VWAP. I used the 1 minute chart to identify the pull back.
Catalyst was analyst upgrade. Stock was on an uptrend at highest levels, utilized lower levels to identify an entry point. Built initial position at dip. Continued to build position as signs of trend continuation appeared (e.g. trend not being broken).
I made an initial buy to lock in a good position. When the pullback failed to show me trend change, i added to my position. I continued to add to my position as long as no warning signs appeared of a trend change. Eventually finished with a 900 share position, just in time for the final breakout. Eventually bought in more shares at the end of the consolidation for further gains. So far my best trend trade, at over $1200 profit.
Catalyst was analyst upgrade. Stock was on an uptrend at highest levels, utilized lower levels to identify an entry point. Built initial position at dip. Continued to build position as signs of trend continuation appeared (e.g. trend not being broken).
I made an initial buy to lock in a good position. When the pullback failed to show me trend change, i added to my position. I continued to add to my position as long as no warning signs appeared of a trend change. Eventually finished with a 900 share position, just in time for the final breakout. Eventually bought in more shares at the end of the consolidation for further gains. So far my best trend trade, at over $1200 profit.
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