Pinned straw:
Chart update Fri26th July 24
Ooo Ooo Ooo look at this. Im loving the setup coming up (lets hope).
Look at all those ABC's down to get to that great support zone I mentioned a week or 2 ago. The next ABC (orange) has just started its C wave down. Its also in a decline wedge (a pattern known for preceding an impulsive move up) & has the ABCDE (3 wave move each wave) although I'm still trying to master this ABCDE pattern. Its will also hitting the 100sma on the daily & a fibonnaci Level of 76.4% retrace of W3 ( its a lot deeper than normal however we all epected that. I just like to see what I beleive is a bottom, happen on a Fibonacci level).
So there are loads of reasons for me to take a position some where after it leaves what I think is the bottom. If I was cautious I would wit for the 1st 1/2 up, however I'm also feeling that the 1st wave up might have some stregth behind it after the market was all on board recently. They will certainly still be waiting and seeing the same as I am.
The Play - So for that reason I might take a 2.5k - 5k token position see how that first 1/2 plays out. If its nice like I'm thinking then after the 1/2 Ill load up. The way I think is I determine the size of holding I dbe happy to end up with, Lets Say 100K -150K. So at the start I will layer in small positions as it proves itself, and then increase proportionally to maintain the 15% profit margin. Obviously the profit will get larger and larger as the overall amount increases till I hit my maximum spent amount of 100K-150K. This all needs to happen in first 3rd of what I work out to be its over all taget of its next large wave up (being W5). This should take quite some time as I have mentioned before, wave 4 down is usually a long one especially in the BIG wave 4 down. To climb to W5 without any Big news could take a long time if DRO keeps winning contracts @ 3-5 million at a time.
Please let me know how you think and would play this out (how you enter, size and techniques). Would love to hear how other think, for or against. Keep it nice though.
Wow @Saiton that technical analysis looks smick, but it's way above my capability scale. I too will watch with interest and anticipation. Like @occy I bought in at $0.425 in my SM portfolio and sold out at $1.455. I like the company, business case and runway for sales in the current global market, but the crazy price was way above my valuation so out I went (obviously too early as it turned out). Like @Arizona I'm always somewhat nervous about the "falling knife", but if more contracts roll through then the crazy PE might be worth ignoring for a while longer.
I wish I knew or understood half as much as you on the technical analysis @Saiton, but I've always used basic tools for my portfolios. Nice work!!
Wow @Saiton that technical analysis looks smick, but it's way above my capability scale. I too will watch with interest and anticipation. Like @occy I bought in at $0.425 in my SM portfolio and sold out at $1.455. I like the company, business case and runway for sales in the current global market, but the crazy price was way above my valuation so out I went (obviously too early as it turned out). Like @Arizona I'm always somewhat nervous about the "falling knife", but if more contracts roll through then the crazy PE might be worth ignoring for a while longer.
I wish I knew or understood half as much as you on the technical analysis @Saiton, but I've always used basic tools for my portfolios. Nice work!!
I'll be following along with interest @Saiton . I'm fascinated to see how this company plays out in the coming years. And you wouldn't want my take on when to buy (back) in. I initially bought in the $0.20's and sold out once it hit the $0.80's thinking I was the smartest bloke around as I couldn't justify the price anymore, only to watch it storm through the $2.50 mark not long after. I'm clueless on this one...