On December 10, 2021, Turbo Trading's Head Trader Robert Knight, MBA, looks at stock $SGMA and explains why it is a picture-perfect trade for us. A transcript is below the video.
$SGMA here. This is a perfect example of a channel trade that we take. I was a little bit late to the game on seeing it, but really here was the entry-level when it popped out of this wedge pattern here around the $10 level. Popped up and started to get up and then into this trend got into a rising channel.
We would have had to fan it out a couple of times it was like this and then like this, but that's not, it's not breaking the channel it’s just tagging down to it. And look at this 15 period moving average, really giving it good support. This is the kind of trade that we love to get into because once you get in it just stay in it as long as it holds this trend.
This trend line here, you just stay in the trade. Now you scale a little bit out. We scaled some out here at the 12 and a quarter 12 and a half some up here at 13. Cause it's the top of the channel. You know you move your stop up now to under 12 and a quarter. And just let it run.
You know, there's no reason to be out of this trade. Not all of your stock. You want to piece it out, but not all of it. This is absolutely picture perfect for us, this trade.