What Makes This Trade Great: ANVS

What Makes This Trade Great: ANVS

Jul 8, 2024

Hello, Barrie Einarson here from Trade Ideas with today’s edition of “What Makes This Trade Great.”To Subscribe: https://go.trade-ideas.com/SHQ
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Let’s dive into ANVS. This stock has been on fire, winning an impressive six races. It’s currently setting up for another potential win, and there are key strategies to keep in mind when trading a stock like this.

First and foremost, it’s crucial to follow the stocks that have won the most races. These winners can set up at different times throughout the day, providing multiple trading opportunities. ANVS is a prime example of this strategy.

In our trading room, Shady called ANVS early, right around the $11 mark. It popped up from there, providing an excellent entry point. I jumped in a bit later, taking a position around $13.70. I sold some shares around $14 and am holding onto the rest. This approach allows me to lock in some profits while keeping a position in case the stock continues to rise.

A critical part of my strategy is to “look left” on the chart. By examining the weekly chart, you can see how much room the stock has to move before it hits the next resistance level. ANVS has a lot of room to run, which is a significant factor in why I’m holding onto some shares.

ANVS had a stellar day last week, which I believe was driven by some news. This recent performance is not just a one-time spike; it’s a continuation of a strong trend. When you see this kind of movement, it’s essential to capitalize on it while being mindful of potential pullbacks.

That’s it for today’s edition of “What Makes This Trade Great.” Keep an eye on ANVS and remember to look for those race winners. They can offer excellent opportunities throughout the trading day.

Thanks for tuning in. I’ll see you back in the room. Have a great evening! Check out my homepage

Barrie Einarson