Switchback Energy (SBE) is long from $12. It is trading at $26.19 as of this writing in the premarket.
You have more than doubled your money in two months. The buy signal was given on September 16, 2020.
Please click here for an annotated chart of SBE.
Note the following:
- The chart shows Arora buy signal and Arora buy zone.
- The chart shows Arora signal to take partial profits.
Switchback Energy is apparently in the process of buying ChargePoint.
ChargePoint is one of the world’s oldest electric vehicle charging networks. Right now the momo crowd is aggressively buying anything that is associated with electric vehicles.
Super aggressive investors would be holding up to 35% of full core position size. Most investors would be holding 20% of full core position size.
We previously wrote that a stock like this could easily jump to $30 to $50. Target zones are given in advance along with stops zones at the same time as buy signals are given.
A note for new subscribers: Please read Trade Management Guidelines to learn about full core position size. Proper position sizing is key to consistent profits while controlling risks.
What To Do Now
Keep in mind that the stock is worth a lot less than where it is trading. It is trading up on momo buying. Since it is a momo trade there is no valuation support. Consider using this information to make a decision based on personal preference.
Most investors may consider taking partial profits in the zone of $24.45 to $31.43. Also, consider stops on partial quantity in the zone of $18 to $18.43. Consider stops on the remaining in the zone of $12 to $12.38.
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This post was just published on ZYX Buy Change Alert.
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