Trade Review "How to pick a bottom" $bvsn | Bulls on Wall Street

Trade Review "How to pick a bottom" $bvsn

Today we caught $bvsn for a 1.40 cent move. This stock is complete garbage and an obvious pump that ran up from 8 bucks to 56 in just 2 months.  Obviosuly the stock will come back down hard eventually, however on its way down there will be pops in the stock that are playable. Below, I have outline the way that we caught this stock today. Here is what I saw in the trade and how we caught the reversal in the stock

The stock had dropped 20 bucks in the last 6 days.  So, when you see a chart that has been down for six days in a row and almost cut in half in those six days, you automatically start thinking about when the stock is going to bounce.  What I noticed this morning was that right when the market opened, the stock had buyers. That was something that the stock had not seen in a week right? So I let the stock open and put in an initial high. The stock then pulls back, but the kicker is that the stock doesn’t sell off on the pullback. Buyers step back in and buy the stock up again. We buy the stock on the intraday break of that intial high and the stock rockets up from there! Pretty simple, but a great profit

Here is a look at the intraday chart and how we pinpointed our entry on the reversal:

5 thoughts on “Trade Review "How to pick a bottom" $bvsn”

  1. One other way to tell if the stock is close to bottoming – if you look at the bollinger bands on BVSN at the time the entire candle for the last day was outside the lower bollinger band. Pretty much the exact same indicator you guys use for a parabolic short except backwards! Look at the charts for IESC and BVSN for the last week or so right on top of each other. IESC up five days in a row then the 6th day iti pulls back inside the upper bollinger band for a short play, BVSN exactly the opposite!

  2. QUESTION: when making your watchlist, are you also scanning for stocks that have been beaten down badly for a few days to catch this very same setup, EVERY night? or are we just looking mainly for breakout stocks? so many angles to trading… I’m curious if we are to look at every angle of set ups nightly

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