2GO has an extremely high-risk level based on my Risk Level indicator. I’m not surprised because this stock just broke three resistance levels (almost four, as a matter-of-factly) in one trading day. It inorganically went above my three moving averages without even giving the shorter-term moving averages the natural time to cross above the longer-term moving averages.
“Jaycee, you sound like you didn’t like what happened to 2GO today.”
I LIKED what happened today!
What I’m trying to point out is that an inorganic surge in price makes the stock extremely risky to trade, especially by newbie traders. If this stock crossed above three resistance levels without a blink, it’s not impossible for this stock to retrace or gap down in the succeeding days. I mean, it doesn’t happen all the time but the chance of it happening is almost 50-50.
I’m sure many of you are excited to know if 2GO will go ceiling tomorrow and break through 16.65, 17.94, or 19.79.
Let’s check the Price-Volume Distribution and Top 10 Players charts of 2GO and see what they say.
Price-Volume Distribution
VWAP: 14.7429
Top 5 Prices (Biggest Trades): 16, 14, 15.5, 14.2, 16.64
Top 5 Prices (Biggest Volume): 16, 14, 13.42, 16.64, 15.5
The VWAP is above the median of the intraday high and low of 13.95. The bulls get one point for that.
Now, I suggest that you pay close attention to the top 5 prices with the biggest volume and the highest number of trades tomorrow. Should 2GO retreat, these price points I mentioned above could act as intraday support levels.
Top 10 Players EOD
Trading participants of 2GO with a 100% Buying and Selling Activity as of Dec-12-2018 at
5 out of 47 participants or 10.64% of all participants registered a 100% BUYING activity
14 out of 47 participants or 29.79% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 14.5759
Top 10 Players’ Selling Average: 14.4864
The psychological average price of the top 10 players as of Dec-12-2018 at
The top 10 players’ buying average is higher than their selling average. Also, their buying average is higher than the median of today’s intraday high and low. That’s two more points for the bulls.
My Recommendations
The bulls got all the points. Is tomorrow going to be another bullish day yet? We can’t be so sure. After all, nearly 30 percent of today’s participants registered a 100 percent selling activity. It just so happened that those confident sellers’ individual total turnover value wasn’t as big as the individual total turnover value of the to 10 players. That’s why the price didn’t go down despite the higher number of confident sellers than buyers.
Just by merely looking at my top 10 players chart, you would already know that at a glance. The green tops of each bar
Are you familiar with my 10SMA-MACD combo?
It’s a buy signal when the price crosses above the 10-day simple moving average and when the MACD crosses above the signal line. If you have been closely monitoring that combination, you would have already entered a new position on 2GO last November 23, 2018. If that is the case, I suggest that you stick with your trailing stop loss.
If the price goes up tomorrow, then do an upward adjustment on your trailing stop loss. If it goes down, then, at least your gains are protected, capital is preserved, and unbearable losses are prevented because of having a trailing stop loss system in your strategy.
If you’ll subscribe to EquiPicks, we can have more meaningful discussions like this in our Private Clients Forum. Other than the mentoring part, we also give stock recommendations for short-term trading and long-term investing to our subscribers.
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