Overall the market still isn’t displaying optimal conditions for position traders yet. But there are lots of constructive chart patterns emerging. My scanning is starting to generate more and more decent chart set-ups. As I’ve said in the past, the main reason I scan is not to find candidates that are worth buying the next day. Instead I use the results in order to:
- Get a feeling for the market
- See where money is flowing into
- Cherry pick the results to replenish watch lists
As most of you already know, I am always looking for stocks with technically strong charts combined with huge story stock potential. A theme I’ve played numerous times in the past is the ‘IoT – Internet Of Things’ theme. Connecting things, telematics, gathering information from sensors, the list of opportunities is endless.
BSQR – BSquare is a stock I’ve been monitoring since May when it popped up in my above average volume scans. BSQR is an IoT software play that is part of GE – General Electric’s ‘Predix’, a cloud purpose-built for industrial data and analytics. Needless to say, this could be a true ‘Game Changer’ for a small company like BSQR. The market is certainly starting to take note. The volume pattern in the weekly chart tells me all I need to know.
As I’ve stated numerous times in the past, my job as a trader is to base my buy decisions on the charts. They give early signals as to what to expect in the near future. Waiting for too many pieces of good news is often a bad idea. The more confirmation you need in order to pull the trigger, the lower the price appreciation potential after buying into a stock.
Click on BSQR – BSquare chart to enlarge:
Conclusion: Looking at BSQR’s chart I already have enough information to act upon. On a successful break out to the upside I will add to my position. I am simply waiting for more technical information as opposed to waiting for confirmation with regards to good news.
Update 11/04/15: Sold BSQR above 12.00$ for a +55% Profit
Sold $BSQR above 12 after my entry around 7.75.
— Olivier Tischendorf (@Tischendorf) 4. November 2015
From BSQR’s website: http://www.bsquare.com/products/datav
“DataV™ – Actionable Data Solution for The Internet of Things
We have entered the era of the Internet of Things (IoT) and Big Data — when people and organizations can benefit from vast amounts of information from billions of things generating trillions of bits of data every day. But this data is being held hostage – trapped in countless disparate sensors, devices, machines and systems.
This year Bsquare will launch DataV™– an actionable data solution for the Internet of Things. DataV is centered on a simple software gateway approach that removes the complexity from your IoT strategy to deliver your desired business outcomes. DataV includes software products, applications and services that turn raw device data into useful, meaningful and actionable data. By helping you to unlock your data, you can lower your costs, improve and enhance operations, lower risks, and identify new revenue opportunities.
DataV collects your raw device data on the network edge, applies rules and logic to make the data meaningful and actionable and serves it up into your preferred cloud, application and user experiences.”
Everything you need to know is right there in front of you. – Jesse Livermore
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