I rarely publish ideas on stocks because I am mainly a derivatives trader. However, whenever an opportunity arises that is too-good-to-miss, I will publish it. If you have been following me, you will know that I called AROC and VALE long (I have put the links to the 2 ideas here) and they have been working great.
SGYP came into my scan last Friday just before the market closes and I became really excited to see an opportunity like this - at the very beginning of a move! If I am wrong, the stock will move down below the low. Given that it is still early, I believe that this is a stock that is a mid-to-long term investment. It is a buy-and-hold but with a stop below the recent low. I am putting a small take-profit target but note that my view (for now) is really a longer term hold for this stock.
Also note that the move was inspired by an earnings call the day before. I don't know the details of the call but it is not important to me as an EW and technical trader. The price action tells me to long.
SGYP came into my scan last Friday just before the market closes and I became really excited to see an opportunity like this - at the very beginning of a move! If I am wrong, the stock will move down below the low. Given that it is still early, I believe that this is a stock that is a mid-to-long term investment. It is a buy-and-hold but with a stop below the recent low. I am putting a small take-profit target but note that my view (for now) is really a longer term hold for this stock.
Also note that the move was inspired by an earnings call the day before. I don't know the details of the call but it is not important to me as an EW and technical trader. The price action tells me to long.
Yorum:
Haven't been performing as expected but this is supposed to be a long-term holding until it breached the low.
İşlem elle kapatılmış:
I no longer like this idea given that it is taking quite long to move up. It is up to you if you want to hold on. I am out.
