GFS Global Foundries

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KGTrader4

Anybody want to analyze this chart?
I bought what I’d consider a half position, looking to buy more on pullback. But I think I made a mistake. I should’ve been patient and waited for it to consolidate at around $67-$68. I think I chased it.

Am I correct?

what would you do with this chart? Is it a good setup, or a watchlist stock?
 
Sorry forgot to include. Bought the stock at 73.87

upload_2022-3-22_11-43-13.png
 
KGTrader4 said:
Anybody want to analyze this chart?
I bought what I’d consider a half position, looking to buy more on pullback. But I think I made a mistake. I should’ve been patient and waited for it to consolidate at around $67-$68. I think I chased it.

Am I correct?

what would you do with this chart? Is it a good setup, or a watchlist stock?
More...

I think you did. The area to buy is at consolidation phases. When it breaks out, set a stop loss immediately, at the resistance area minus say $0.10, say resistance is a $60.13. Set stop loss @ $60.03 GTC. If you bought at $60.50, your risk is $0.47. Initial target 2/1 is $60.50 + $0.94 = $61.44, 3/1 is $60.50 + $1.41 = $61.91. It is now $73.48. This is why trailing stop losses make more sense as this stock has run up quite a bit.
 
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KGTrader4 said:
Anybody want to analyze this chart?
I bought what I’d consider a half position, looking to buy more on pullback. But I think I made a mistake. I should’ve been patient and waited for it to consolidate at around $67-$68. I think I chased it.

Am I correct?

what would you do with this chart? Is it a good setup, or a watchlist stock?
More...
%%
TECH trends + semi stocks are the wildest trends. I do tech trends ETFs more so than semi stocks ETFs.
May never base around $67-68+ can easy go to $47 .
It has had 2 topping tails [3-3-22]on day candles[looks likes an upside down ''T''] But if wanting a profit signal. IF it was an ETF i would get back in get back in, after selling on the next topping tail/ assume it will make another one eventually??
A good trend will disregard a topping tail; so that a disadvantage of profit targets/signals.
 
Ok, yeah I thought so, this is a good way to learn.
Opportunity knocked to get out at no loss, sold at $74.00 lesson learned (I think) with a profit (a minuscule profit but a profit).

on my watch list for a pullback
 
Tough call. I've chased too many of those before. Yesterday's bull day may be short lived and I would wait until the next correction before getting in, somewhere around 60, and ride it to 70+.

But I'm a noob
 
KGTrader4 said:
Ok, yeah I thought so, this is a good way to learn.
Opportunity knocked to get out at no loss, sold at $74.00 lesson learned (I think) with a profit (a minuscule profit but a profit).

on my watch list for a pullback
More...
%%
Actually that one is better than average uptrend,KGT4.777
I'll comment on SMH[sector] + QQQ. I trade QQQ, qld + TQQQ much more than SMH but they are in QQQ [NVDA >4%.....]
Looking back in old IBD newspaper. SMH + SOXX , QQQ .....made the top % gainer for that week. SMH,SOXX made over 8% that week ; QQQ about 3% QLD about 6%/ TQQQ about 9%.
Even though most of those are a bit below 200dma [bear trend]; on 52 week / acceptable uptrend, [WEEK of 3-19-21 thru 3-19-2022]
Semi sector + QQQ/ TQQQ are better % gainers than average , but wilder.
QQQ is till up nice uptrend as of 10;16,CST,Thur MAR 23/2022.
SDS is up better today [10:18,cst]/ but QQQ is up better for week. Back to my charts.
Good semi+ QQQ uptrend
 
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