What Makes This Trade Great: TRIB’s Pre-Market Potential
What Makes This Trade Great: TRIB’s Pre-Market Potential
Aug 27, 2024
By Barrie Einarson
Hello traders! Barrie Einarson here, and today we’re diving into a trade that really highlights the value of patience and attention to detail, especially when you’re dealing with choppy pre-market action. To Subscribe: https://go.trade-ideas.com/SHQ
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Let’s talk about TRIB—a stock that our AI flagged near the bottom of the day. Now, this one wasn’t for the faint of heart, as it was a bit of a rollercoaster early on. If you look at the tan and brown areas on the chart, you’ll see how choppy things were during pre-market hours. At one point, TRIB got all the way up to $3.38, only to drop back down to $2.78. That’s a big percentage move in a short amount of time, and it’s exactly the kind of situation where traders can either make or break their day.
But here’s the kicker: our AI spotted TRIB near that $2.78 bottom, which turned out to be a fantastic entry point. Sure, it chopped around a bit after that, but this is where I always remind traders—don’t abandon an AI alert just because the initial move didn’t go your way. TRIB gave us plenty of chances to get in. Even if you missed that first entry, you had a solid 45-minute window where the trade was still viable.
By the time TRIB hit $3.25, we were looking at a 14% gain. And when I checked the weekly chart, I saw there was room to run up to $3.40. Now, I’m not saying it’ll get there, but the potential is something you can’t ignore. This is why it’s crucial to stay engaged with these AI alerts and not let a bit of early chop scare you off.
So, the takeaway today? Trust the process. Even in volatile situations like this, there’s opportunity if you’re willing to stick with it. CRIB turned out to be a strong play from our AI, and it’s a great reminder to always look left on your charts and keep the bigger picture in mind.
That’s it for today’s edition of What Makes This Trade Great. See you in the trading room tomorrow!