This Momentum Stock Shows a Breakout On News...READ MORE
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This Momentum Stock Shows a Breakout On News
Many investors have followed the CAN SLIM method of stock selection explained by William O'Neil, the founder of Investors Daily. This trading method provides a template for identifying momentum stocks that are likely to move significantly in the short run.
The acronym CAN SLIM provides the rules for the strategy with the N standing for new. It could be a new product or service, which refers to the idea that a company should have continuing development and innovation.
This is what allows the stock to emerge from a proper chart pattern and achieve a new price. A notable example of this is Apple's iPhone. That was a catalyst for the company and for the stock.
We found another potential opportunity in a stock with a new product or service as we explain in our latest article, and we believe there is significant potential in this trade for short term gains. We detail exactly what trade we found and using market data the potential gain could be more than 50% in a trade that will be open for about one month.
It could even be a potential CAN SLIM candidate which would make the stock attractive to momentum investors who manage billions of dollars.
You will find all the details of the trade, including the potential risk of the trade, in our latest free educational article that is available right here.
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