Potential Trade Idea
Below are some thoughts on a potentially interesting trade setup that is forming. It brings to life the principles from my post, 'How to Buy Stocks Near Their Lows.'"
How To Buy Stocks Near Their Lows
This post summarises the process I use when looking to buy stocks near their lows. It details the lessons I have learned and the framework I use to consistently identify and execute entries at these …
Here we will use RBRK as an example and how to trade it.
What is Rubrik and what do they do:
Rubrik (NYSE: RBRK) is the Security and AI Operations Company. The company’s data security platform secures and recovers data from cyber threats and operational disruptions. Rubrik has been recognised as a Leader in the Gartner® Magic Quadrant™ for Enterprise Backup and Recovery Software Solutions for two consecutive years and is trusted by over 6,600+ customers across the globe, including world-renowned enterprises and government organisations.
Recent Price Action:
The stock is down 44% in the last 6 months and ~32% YTD.
Many people have been trying to time the lows but have found themselves blindly averaging down. However, the events today give two reasons why a tradable setup is forming.