SMDM - POWER PLAY

Updated
I have my position today
September 9, 2024

The reasons:
1. Low-risk pivot point
2. The stock offers a very tight entry in a power play setup
3. It surged over 250% in less than eight weeks
4. Corrects only 8% during this pause, indicating big institutions unwilling to sell their positions
4. High relative strength, outperforming the general market
5. The stock is moving on its own universe and marching to its own drummer
6. Volume dries up during the pause
7. The general market is in its bull campaign

Flaw:
1. Squats below breakout level on the closing
2. No real volume on breakout

It is a textbook Power Play setup, outstanding prior moves with very little sell-off on its correction. I like to see if it can hold up and reset its pivot area for another proper entry.
Trade active
I reduced my position in the closing day at -2% loss as it closes weak and lack of institutional participation.
Trade active
Currently resetting the pivot area, I'm watching it very closely.
Trade active
The train doesn't come on schedule. I reduced some more positions today at -2% loss.
Trade closed: stop reached
The stock doesn't move, I get out at a -2% loss.

Trade closed.
HTFPOWERPLAYTrend Analysis

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