CLEO (VCP - 28W 24/7 3T)Position update: December 20, 2024.
Key factors:
1. Low-risk entry point.
2. Confirmed stage 2 uptrend.
3. Has gone through its majority line of supply.
4. Moving on its own drummer, the stock went up +125% while the index remains nowhere.
5. High relative strength.
6. Volume dries up as less supply coming to the market.
7. Both breakouts accompanied with a decent volume.
Considerations: The current market environment remains challenging, as it fails to sustain a bullish trend and continues making lower lows. However, this is the only stock that is setting up properly in the current market.
This is a quintessential VCP with clear contractions and a defined entry point. I’d like to see if it can hold up and follow through from here.
