RE: Stage Analysis Beginners Questions
(2021-02-03, 12:20 AM)isatrader Wrote:(2021-02-02, 11:56 PM)miche Wrote: I keep missing the breakout since I'm not always at the computer. Today I checked it at the open and everything looked normal and didn't get a chance to look at the charts until after the close and saw APHA was already up 17%. In this case would it be better to set a limit order at 13.18? But then how would you know the volume is coming in? Reading about multiplying volume by 4 if it's 10:30EST since 25% of session has elapsed. I guess I can aim for a fishhook for second chance. cheers
I'm not a fan of setting limit orders for pullbacks myself, as I want to watch the price action on a pullback to make sure that it and the volume are acting correctly. For early intraday volume I use the IBD charts, as it shows the volume compared to the 50 day average for the time of day. It's not perfect, but if it's 500%+ in the first 15 minutes, then you are more likely to have an above average volume day by the end of the day.
Personally, I use alerts. You do your homework in the evenings and know which few stocks you might want to trade if they go through a certain level. So I set an alert under that level and then I can quickly check the chart if it triggers, and enter if it looks right.
I entered TLRY myself at 21.26 earlier today https://twitter.com/stageanalysis/status...93064?s=20, which is merging with APHA in a few months or so. But lots of weed stocks in the watchlist again tonight, so a group move today as multiple broke out from their recent bases.
ISA, what are your thoughts on the drop that weed stocks have had over the last couple years versus their current gains? I personally am in one of these stocks, but I can see how they may have a hard time rising back to their peaks of two years ago?