Potential Trade, What Do You Think?

[christian370z]

Hey everyone, I have been a bit of a lurker just trying to learn all the great information you all contribute every day! Anyhow, I have had some good success actively day trading after getting back into trading recently but I am up in the air on this stock.

I have a relatively small amount of equity to invest so I look for cheaper, volatile stocks to try and gain some leverage and want to play WH. Here's my graph, let me know what you think of my analysis:

TIA!

 

[Doomberg]

From $0.24 to $0.60 in 5 days, gotta love penny stocks

Looking at the chart only, the main trades are gone for me but i have no idea about the fundemetals of this stock

 

[eegozi]

Hey everyone, I have been a bit of a lurker just trying to learn all the great information you all contribute every day! Anyhow, I have had some good success actively day trading after getting back into trading recently but I am up in the air on this stock.

I have a relatively small amount of equity to invest so I look for cheaper, volatile stocks to try and gain some leverage and want to play WH. Here's my graph, let me know what you think of my analysis:

TIA!

I agree,...this is likely a recipe for disaster. It is so cheap that you will be tempted to buy a few thousand shares and get stuck when you want to liquidate it because it is so thinly traded. Also a 10%-50% move in a stock on a daily basis is the NORM for this. I hope you have your Pepcid and Immodium AD ready.

 

[christian370z]

I'm happy to trade swing stocks, I've been very successful so far which is always a good thing! I would probably end up buying a thousand shares or so to play the large swings but I'm going to look for an entry point around 40 cents, or near the support line and most likely place a limit sell order at 56 cents or so. That's an ideal gain for me.

 

[NewTrader1978]

I'm happy to trade swing stocks, I've been very successful so far which is always a good thing! I would probably end up buying a thousand shares or so to play the large swings but I'm going to look for an entry point around 40 cents, or near the support line and most likely place a limit sell order at 56 cents or so. That's an ideal gain for me.

Taking a look at the 1 day chart for today, the stock is currently trading down 2% at 0.49. It's been down two days in a row. I think it will go down some more and then bounce back up. I agree with you that you should wait for an entry point around 40 cents.

 

[christian370z]

Cool, thanks for confirming! I really appreciate the help, just waiting for volume to pick up again for WH and then I will place a limit order and wait to see if I can grab it for .40.

Cheers!