for anyone who took the recent CVM long for a very quick 40% ride to the top of T3 and took profits, you should feel a lot better about that exit as the stock has giving back all those gains just as fast. original chart posted and today's updated chart.
Top of T3 zone hit. Prices likely to pullback from here so good place as any to take the quick profits if you took the trade and didn't cash out yet.
T2 already hit. volume continues to run above avg. was a nice add-on/entry spot at the pullback to T1 on friday. consider either taking some/all off here or hold out for T3 if you think the market will hold up. personally, i'm starting to reel in any remaining longs here with all the red flags in place.
moved CVM to the active trades category as volume has been above average all day, confirming the breakout. no guaranteed in trading, especially with the low-priced, low-volume stocks but odds favor at least T2 being hit now. any pullback to the T1 area would be an objective place to add/initiate a position. a stop might be considered on a move a little below T1.
seems to be taking some above avg volume so far today but nothing huge and the day is still very young. one to keep an eye on though. was posted in Trade Set-ups category yesterday (or enter the ticker symbol in the search bar to reference the post).
most notes are on chart. this is a high risk, but potentially high return trade. just make sure to keep position size small because this is a low-priced, thinly traded issue. as always DYODD.