When I look through charts, I place an alert in TC2000 to tell me the instant a stock climbs above a horizontal line I have drawn at the stock’s recent peak. CAVA was too new to form a green line top, which requires a minimum of a 3 month consolidation after reaching a peak. However, when I see a recent IPO, like CAVA, that has formed a short base I draw a line at the peak and enter the alert in TC2000, good for a year. Wednesday morning I received a text saying the alert on CAVA had been triggered. I immediately purchased a little. See how CAVA performed. IPO break-outs from a base can be very profitable. If CAVA should close back below its break-out line, at 47.89, I would immediately exit.
