Two trading days ago a buy signal was given on Apex Technology Acquisition Corporation (APXT) when it was trading at $10.49. APXT has moved up to $14.40 as of this writing representing a 37% gain in two trading days but has traded as high as $15.50 this morning.
The first target given in advance at the time of the buy signal was $14 to $16. All subscribers should have taken partial profits when it hit $15.50 and started backing off. Investors need to keep in mind that this is a pure momo trade to take advantage of the momo crowd running up stocks without paying attention to valuations. Since there is no valuation support, it is important to take partial profits even though the second and third targets are much higher. The second target zone is $19 to $23. The third target zone is $28 to $38. Those targets are derived from an analysis of the momo crowd’s recent behavior. Before the pandemic, the momo crowd was fickle. After the pandemic, the momo crowd’s behavior has changed — their greed knows no boundaries and they act fearlessly to pay higher and higher prices for stocks without understanding that these stocks are running up because of their own buying.
What To Do Now
In the original post that gave the buy signal, we wrote:
This is simply a trade to potentially take advantage of the behavior of the momo crowd but with less risk compared to most momo crowd trades.
Clearly, as the stock has moved up the risk has gone up. Those in the stock may consider taking partial profits.
Those not in the stock may wait for a signal on the Real Time Feed or act if experienced and aggressive using the information given above and in the last post to make a decision based on their own personal preference with tight stops.
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This post was just published on ZYX Buy Change Alert.
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