$ANY Momentum into earnings

30 ต.ค. 2021

ANY was an idea I generated months ago when it was near it's lows and is the #2 profitable ticker for me YTD behind only AEHR. I was waiting for this to make a move higher, and then pullback to the level of support for confirmation before a breakout to the highs. It has now done this. It needs to be noted this has earnings on November 17th.

Currently we are consolidating on a key level to include the 50day moving average and the anchored VWAP from August 6th when the gap started this momentum run and trend. This base we have been making for two months now on 5.50-5.70s is the biggest key level of all. Last week, we saw the stock crack the 50day and aVWAP on Friday but so far it has snapped back to reclaimed it. I will be looking early next week if it starts to fade lower vs that level or if it flattens back out. I will be looking for the range to continue to tighten up and volume to dry up. I'd really like to see this put in at least one day of under 10m volume right about where its at now and inside the range of $6-$6.5.

However, either way, a move out of this base to the upside on elevated RVOL is a buy for me. This is a crypto play as well so Bitcoin and Etherium doing well makes this a stronger play. I think this can make a quick move towards $10-$12, consolidate, and push towards $20 before the end of the year. I will not hold chop into earnings. Only if this is strong and I have locked profits will I hold some through and even then I may take it off and look to reposition after. Just a coin flip.

Obviously price action trumps everything so I will size appropriately, look for key levels to trim my position size and lock profits, then add back when it confirms higher on volume. If not, my stops will be trailing and I will not let a green trade here turn red. I will reenter if it warrants so.