SITO - Setup: A-
I am aiming to long SITO
be sure to review all the information given before taking positions and do your own dd.
target entry: 1.47 - 1.54 (above vwap)
tight stop loss: thinking no lower than 1.45
loose stop loss: 1.35
duration: 2 -4 weeks
- Play breakout past 1.68 into channel 1.68 - 3.12
- Above 3.12 (pivot point) we gain additional attention and momentum
- No visible news since Jan 7 but as a software company these play like biotechs, they either have value or they don't. When they __do__ their __price__ moves quickly (and often above their true __value__). We will prepare to sell into resistance **if no true catalyst presents itself +/- 1 day of the 3.12 test.