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2019-09-22
This trade idea came from reviewing Investor's Business Daily Stock on The Move on Thursday 2019-09-19. I liked the chart and decided to buy off of that.
This was a buyable gap up and it closed the gap. In candlestick speak it closed the window and is finding support again.
It passed several of the criteria and I saw the MACD and MACDH were crossing and turning positive. There were several moving averages were also crossing
It opened lower in the first hour of trading. Based on the moving averages I didn't think it would go lower and bought. That turned out to be a great fill
Check out buyable gap up setup: In The Trading Cockpit with the O'Neil Disciples: Strategies that Made Us 18,000% in the Stock Market.
The classic textbook on candlestick charting is Japanese Candlestick Charting Techniques, Second Edition
This is a risky trade please do your own due diligence
I got filled at $26.28
Stop Loss -19% at $21..25
This is a larger than normal range, but this is lowest it should go based on the current bottom. This is the max loss and will trim this if the trading going bad
Upside Target +35% at $35.42
This is the last New High and will meet some resistance at this level. I will hold to see how it trades at this level. I will sell off half of my position at this level
IBD Rankings 09/20/19
Composite Rating: 86
EPS Rating: 77
RS Rating: 99
Group RS Rating: A+
SMR Rating: N/A
Acc/Dis Rating: D
ROE: 12.60%
Debt: 1050% - Heavily Leveraged
Outstanding Shares: 122.0m
Float: 78.1m
EPS Due Date: 11/06/19
PE Ratio 344.84x
Ex-dividend date: None
EPS % Chg (Last Qtr)900%
Zack's has this as a Buy: ENPH
Dr Alexander has a triple screen for viewing charts and Trading for a Living is why I use the following charts
2019-10-23
I closed out of my position today, because I see the market continuing to be against me. Yesterday was a very bad day and the way I'm reading the tape is this is an active short. I normally play the long side, because it is psychologically fitting for me
There was a double bottom and I had been expecting things to turn for the better. The stock was at a convergence point with a collapsing trading range and a tightening of moving averages
I got filled at $24.17
$26.28 - $24.17 = -$2.11 / $26.28 = -8%
