I can't find the symbol ERG. Is that the correct one.
And why would one want to buy UPL on weakness? That strategy doesn't make sense to me. What am I missing?
Buy a stock that is going down and now because you own it, it's supposed to put on the brakes, turn around and head up?
This doesn't make sense to me. It defies the law of gravity.
To me, that's like wanting to go to Boston from New York but I'm going to take the bus to Philadelphia or Washington first, and then head up to Boston. Why not get on the right bus to begin with?
Your other picks have better reasoning and strategy behind them. Most of them are now dealing with the 200 day moving average and often times we will see a bounce on the first test on that major support level.
Sometimes that support will reverse the trend, sometimes not. I use that strategy myself because it provides a low risk trade. The low risk involves buying support and if support is broken, stop myself out with a small loss.
Let's use SBR as an example, simply because it was first on your list.
Yesterday saw a spinning top at the 200 dma. Today saw an inside hammer day at the same point. This tells me that the recent volatility is slowing down and we are seeing some buying interest.
I would want to buy strength though and not weakness. To buy strength, I would wait until the price could trade above $39.00. This would mean the momentum is now to the upside. I would set my stop below yesterday's low because a lower low would mean the reversal isn't coming and I get out with minimal losses.
Since MACD is showing the trend as negative and money flows are negative as well, I don't want to be guessing a bottom here. I want to see price establish some upside momentum and then grab on.
stockcharts.com[h,a]daclyiay[d20050115,20050415][pb50!b200][vc60][iut!La12,26,9!Lc20]&pref=G
Just sharing my thoughts on how I would play SBR using TA. I know nothing about them and realize your strategy may be different from mine. I'm merely sharing another perspective.
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