$UPST this is an example of Stage Analysis in action as this has been one of the top stocks to trade this year.
1) In March the stock market completed its last major correction so it was a good time to start looking at the long side of the market.
1) In March the stock market completed its last major correction so it was a good time to start looking at the long side of the market.
2) The best time to buy stocks is after a correction in the overall market.
3) This rally in stocks took a few weeks to get going as the regional banking crisis was digested in April and early May.
4) Artificial Intelligence stocks as a group started turning higher in early May
3) This rally in stocks took a few weeks to get going as the regional banking crisis was digested in April and early May.
4) Artificial Intelligence stocks as a group started turning higher in early May
5) So a sector move started to take shape with multiple stocks breaking out of bases on volume.
6) Since we were still early in the uptrend in the overall market these stocks had room to run.
7) UPST made a 12 week move higher out of the 21 week rally in the overall market.
6) Since we were still early in the uptrend in the overall market these stocks had room to run.
7) UPST made a 12 week move higher out of the 21 week rally in the overall market.
8) By the end of the rally many other AI stocks started faltering before UPST which was a sign of sector weakness, plus UPST was extended from key moving averages going into earnings. So it had the conditions in place for a big pullback.
9) Overall this is a good example of the general market turning higher, a sector move starting and a leading stock going up a few hundred percent before the next stock market correction starts.
10) These types of stocks are what you want to study to prepare for future cycles.
10) These types of stocks are what you want to study to prepare for future cycles.
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