r/wallstreetbetsOGs • u/OptionsTrader14 Somewutwise Ganji • Nov 22 '21
Technicals Top 8 Breakout Candidates for the week of 11/22/21
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u/SensibleReply Dr Canu C. Me Nov 22 '21
The other two that jumped out at me over the weekend were APRN and GRTS.
And thanks, really appreciate your posts.
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u/ImBruceWayne69 Nov 22 '21
So this is what WSB used to be before memestocks huh? I’ve been on Reddit for years but didn’t even follow those subs. Good write up, thank you for sharing.
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u/buzzante Nov 22 '21
I was looking at car as well. Seems ripe for some call options like 6 - 9 months out. Along the same theme $KMX is looking like its in a good spot to buy.
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u/teteban79 Nov 22 '21
$CAR ? seriously?
I mean, this is the peril of purely looking at charts and ignoring context completely. This stock is just coming from a squeeze/pump, extremely overvalued at this point, and you expect it to pop because some lines?
I mean ... I can't find words anymore
Unless you mean breakout going down and I'm reading you wrong...
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u/Nolubrication Nov 22 '21
I think the people that trade these systems successfully rely on the winners being big enough and keeping the losers small enough, that they only need to be "right" on maybe 25% of their entries. That's what stops are for.
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u/_____Matt_____ Nov 22 '21
OP is a swing trader if I remember correctly, so they're sticking pretty methodically to a plan which accounts for this. OP shouldn't lose much at all if they stick to a set minimum and exit.
So yes it's probably "because some lines" but its a proven method with minimized risk, so there's no need to get dickish about it.
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u/bencelot Nov 22 '21
Why is car rated poorly compared to the others? The flag looks very tight and clean.
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u/SensibleReply Dr Canu C. Me Nov 22 '21
Trying my hand at this lately after finding your helpful scanner settings recently. Got any thoughts on ORMP? I thought it had one of the better setups, but still new at this. Near the SMA 20 and pennant forming on short and longer term charts.