Zim Pops On Earnings
$ZIM
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This is a trade that’s worked nicely, and is currently at an inflection point -
Todays price action is bringing the stock up to the AVWAP from IPO, a psychological level that I love to trade around, and has been incredibly successful for identifying favorable risk/reward long setups.
So I’m booking some gains today, but may quickly not only reenter, but increase my position size on a break and hold of $30 (right where the AVWAP is sitting now). I’d be taking that trade for a move to $40-45 based on overhead supply. Doing this allows me to book gains on a winner, and enter a more favorable risk/reward setup against a $30 downside level where I’d exit.