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Monday, May 23, 2022
Two ways you could've spotted SIGA early
I use these every day…
Good Morning!
Last week, the major indexes had their longest weekly losing streak since 2001.
But believe it or not, there are still ways to make money in this market … Even if you're not a short-seller.
In fact, every morning there are multiple runners that we have to narrow down to the best potential opportunities.
Lately, a lot of those trades don't appear until later in the day… like NeuroMetrix, Inc.'s (NASDAQ: NURO) big spike on Thursday afternoon.
But on Friday, you didn't have to wait until the afternoon for the short squeeze du jour…
You could've entered there and used the low of day as your risk level. One of the biggest benefits of Oracle is that it also gives you resistance levels to exit your trade.
On Friday, it showed $11.64 as SIGA's resistance level. But if you struggle to hold that long — and want to take profits when you see profits — I can't argue with that. Especially in this market...
The great news is that Oracle can help you with that too.
If you use Oracle's support and resistance level indicator on your charts, it shows you multiple potential reversal areas.
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*Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.
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