BDKR - CUP WITH HANDLEI bought my positions today
October 9, 2024
Key factors:
1. Low-risk entry point.
2. Established a clear Stage 2 uptrend, indicating positive momentum.
3. Breaking into its all-time-high.
4. High relative strength, the stock went up +80% compared to a modest 11% increase in the index.
5. The recent reduction in volume suggests diminished supply in the market.
6. Many stocks start showing traction based on my own stock continuum.
7. We are in the early phase of a larger bull market cycle, adding tailwinds to individual stock movements.
8. The market shows a constructive advance, with 48% of stocks trading above their 200-day moving average, indicating underlying market health.
9. Significant volume on the breakout, supporting the move’s legitimacy.
Considerations: While the stock exhibits a solid technical foundation, the breakout is not as robust as typically expected for a stronger move.
This is a textbook cup with handle formation which typically precedes further price appreciation from the entry point. I'll be closely monitoring its behavior to assess its ability to hold and build on these gains.
