Received an upgrade from Benzinga PT $4. "Upgrades" and "billionaire buys" can be catalysts in themselves.
The thing about SOL's last run is that it really likes to stair step. It took multiple trading days to run-up last time and reached a muli-day run-up equivalent (from last time's multi-day run) in 1 trading day today. The RSI is hot.
Watch for unusual shakeout buy-in opportunities and big discounts. (Just ensure it's backed by massive level II volume).
The chart even did a nasty shakeout on 08/26/2020, before toping out the pre-market that very next day. ($2.00 all the way up to $3.18. What a nasty shakeout). This stock likes to gap up overnight and then make a great short play the next day or just consolidates before gapping up again.
The BEST thing to do with this play would actually hope that it bleeds off all day and/or consolidates, and then buying an OVERNIGHT position to hold and just assume the stock will follow the pattern it did prior.
1) If a gap up happens, look for the stock to sell-off all day. Look to buy at the end of the day if strong support is shown.
2) The stock could sell off to as little as $1.70c, but $1.80 is more likely. I'd be willing to buy dips at these ranges. Due to the analyst upgrade, this is one of my favorite setups.
3) I'd also buy a retracement after a breakout, but don't think it's likely this setup occurs.
To be completely honest with you though, this may just be a better play to swing for 2-weeks and just let go of (if you're into swing trading).
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