Nov '24 • 💰 Stocks
Todays Stock Opportunity
There are thousands of Stocks out there, and if you would like to look at anything in particular please don't hesitate to ask!
Today's Stock to feature is UPWORK (ticker UPWK).
It just recently broke out of the accumulation zone and is backtesting the previous resistance turned support. The potential reward is noted above. HUGE potential reward for anyone looking to get in.
Now let's talk about risk.
All trading is risky! But here we have a ticker that removed 90% of the risk for us by breaking through a previous resistance zone. The likelihood of it dropping below this zone is low, BUT it is not zero. So when it comes to risk management, don't put in any more than you are willing to lose.
If you zoom in on the chart you will see a small support level at $13.55. If it breaks below that, it will most likely go back down to $9. So the $13.55 (10% drawdown from here) is a good spot to set a stop loss.
Please feel free to ask any questions, and let me know if there are any specific charts you would like me to review.
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Todays Stock Opportunity
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