Phalanx Trade of the Day (02/07/2020)

Check out this trade on IRBT! We caught this at a low price at the open and locked in a nice profit. Be sure to take a look at how the volume on the daily chart is in an ascending formation. Notice that price is very low. We projected volume to close at very high levels and were able to predict this at the open. This stock is in a great squeeze pattern as you can see on the chart below which was another solid indicator of a bullish move. All of these variables coming together allowed us to lock in a solid five percent move in under 15 minutes! What a great pattern! Wish they all looked like this.

Be sure to stay tuned for more charts and good luck trading the markets

-Phalanx

Disclaimer: Phalanx Trades is not an investment adviser and this post is for informational purposes only in order to document the historical trades taken and should not be considered investment advice or a recommendation of any trading strategy. Day trading and the methods used are not suitable for everyone, please consult your investment adviser or do your own research before making any investment decisions.