It is really quite a simple trade but a lot of people don’t really realize that, I got a great entry on the stock today after I got back from home and watched it rip past the key point of .01 and saw a lot of sellers come in, most likely bag holders from previous runs.
I wanted to watch the action and see if it would hold near that .01 mark and not fall back to quickly towards .008
It didn’t take much to pull the trigger when I saw most of the sellers get eaten at the .0097 mark and the bids stacking at the .0096, 100k buy executed at .0097
So now comes the rest of the play[like_to_read]
, as we can see $NEOM closed today at .0137 which was extremely strong. Taking chart history into account and the fact that this has ripped from .01 – .20 and .01 – .06 both within days over the last two years, this has some momo behind it with that $MSFT news, take a look at the chart below for reference.
Trade Plan in steps:
#1 Take off 50,000 at the open which will be prolly a gap around .015ish
#2 Take off 25,000 either at .0125 if it falls to that point or the .017 area
#3 Let the last 25,000 ride for a swing trade as long as the 50EMA on the 15 min chart does not break.
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