Trade Ideas Revisited
All 4 of the trade ideas pitched on the 14th of April have aged well.
We previously looked at COIN and ORCL, both of which saw double-digit percentage gains in a single session. Now, we will focus on RKLB and ARM, the other two featured stocks. Link below:
ARM: Longed at 159, it is up >48% in 8 sessions.
With ARM was patient to let the position work though would have been more fruitful to average up once it broke out at 183. However, it is now very extended
RKLB: Entered at 72 and exited for the 23% gains after 4 sessions.
With RKLB, the concepts at play were: relative strength within its group, a confluence of MAs, and tight price action prior to entry. It was also a thematic pick. The reason to exit at 89 was that I saw resistance at the 90 level hence taking profits felt like the right move. Though the stock did go to 92 the day after, it has now retraced to $79.
I would recommend taking profits and moving stops up as you see fit with these positions.
Thank you for reading and see you for the next one!