Hey everyone, Barrie Einarson from Trade Ideas with today’s edition of What Makes This Trade Great? To Subscribe to Trade Ideas: https://go.trade-ideas.com/SHQ
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Today we’re looking at AIFU, a stock that changed its symbol earlier this year and is now Allied Future Technologies.

Our AI picked up AIFU as a long at around $7.37, and it didn’t take long for the move to get going. Before seeing much of a pullback, the stock ran from $7.37 all the way to around $8.48.

After a pretty significant pullback, AIFU found some momentum again and made another strong push, reaching approximately $8.93.

Now I’m watching to see what happens later in the day, particularly around VWAP. The stock briefly pushed above VWAP earlier, but I want to see whether it can reclaim and hold that level during the afternoon. If it does, we could potentially see another challenge of the earlier high.

There really isn’t much chart resistance above this area, which makes it an interesting one to keep on the radar.

That doesn’t mean I’m going to jump into the trade expecting another run. I’d rather wait for the price action to confirm what I’m looking for. I’ve got my price alerts set, and now it’s simply a matter of watching and seeing what AIFU does next.

Another strong move from our AI and definitely one to keep an eye on.