What Makes This Trade Great: A Breakdown with Barrie Einarson

What Makes This Trade Great: A Breakdown with Barrie Einarson

May 16, 2024

Hello, it’s Barrie Einarson with Trade Ideas, and welcome to today’s edition of “What Makes This Trade Great.”

Today, we’re diving into a decent trade flagged by our AI team. The stock in focus is ASTS. Let’s break down why this trade stood out and how you can leverage similar insights in your trading strategy.

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The initial alert for ASTS was triggered at $3.43. It’s crucial to remember that you don’t have to dive into these alerts immediately. Patience can be key, and ASTS provides a perfect example of this.

Post-alert, the stock didn’t show much movement for a while, which is about an hour based on the 15-minute candles. While this waiting period might seem uneventful, it’s an opportunity to observe and plan your entry. ASTS had some bottoming tails during this time, which could have tested your resolve. However, recognizing these patterns is part of honing your entry and reentry skills.

An hour later, the stock started to move. If you had entered around this time, you wouldn’t have been stopped out. The price only dipped about 3 to 4 cents below the entry point. Patience paid off as ASTS climbed from $3.43 to $3.85, marking a solid 10% increase. This movement was influenced by earnings, making it an interesting stock to watch for the next day as well.

Thanks for tuning in. I hope this breakdown helps you in your trading journey. Have a great evening, and I’ll see you tomorrow!