Long
NAKD - would you go naked? (pun intended! lol)
NAKD caught my attention when they announced share offering @ $1.70 to raise $50m 2 days ago. The stock has been bottoming out since Dec 2019 (trading below the $2.60 resistence) with little market interest until they announced direct sharing offering (closing 1st Feb 2021).
This chart has the hallmark of a multi-bagger, namely flattish bottoming that lasted for at least a year with some stealth accumulation since 2.5 months ago (marked increase in traded volume without moving the price much).
A close above the $2.60 resistence would be v bullish (52 weeks high) and could propel the stock a fair bit higher.
Either scale out at resistence along the way up or give it a wild trailing stop on the way up.
Expect it to be very volatile by nature of it's cheap price hence position size accord to your risk tolerance.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
This chart has the hallmark of a multi-bagger, namely flattish bottoming that lasted for at least a year with some stealth accumulation since 2.5 months ago (marked increase in traded volume without moving the price much).
A close above the $2.60 resistence would be v bullish (52 weeks high) and could propel the stock a fair bit higher.
Either scale out at resistence along the way up or give it a wild trailing stop on the way up.
Expect it to be very volatile by nature of it's cheap price hence position size accord to your risk tolerance.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
Note
Sorry guys! NAKD turned out to be a bad trade :(. I got stopped out at 1.28 this morning and will not re-stake until I see more convincing momentum.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.