Long trade in TOST
TOST went public in late 2021 - just in time to get slaughtered in last year's bear market. But the stock is now turning around.
I like the late-2021 and 2022 IPO bucket since a lot of these names have not had a chance to shine in a healthy market. Many are trading for a fraction of their IPO price and beginning to shine. TOST is one of them.
After nearly doubling off its lows in the middle of last year, TOST began forming a large consolidation base.
Notice how the stock respects its 200-day moving average. What was initially resistance has become support after reclaiming the 200-day, and TOST is now breaking out to new 52-week highs.
Last week's pullback to the 21-day moving average (blue line) was immediately bought. We are seeing tennis ball action as TOST jumps right back to its highs which is a good sign of support buying.
We are seeing the first base breakout in the stock's history which, historically, has led to substantial upside moves in new companies with game-changing products like Toast.
NOTE: The company reports earnings on Thursday, 2/16 so I will be keeping exposure light until we see the numbers and how the stock reacts.
I like the late-2021 and 2022 IPO bucket since a lot of these names have not had a chance to shine in a healthy market. Many are trading for a fraction of their IPO price and beginning to shine. TOST is one of them.
After nearly doubling off its lows in the middle of last year, TOST began forming a large consolidation base.
Notice how the stock respects its 200-day moving average. What was initially resistance has become support after reclaiming the 200-day, and TOST is now breaking out to new 52-week highs.
Last week's pullback to the 21-day moving average (blue line) was immediately bought. We are seeing tennis ball action as TOST jumps right back to its highs which is a good sign of support buying.
We are seeing the first base breakout in the stock's history which, historically, has led to substantial upside moves in new companies with game-changing products like Toast.
NOTE: The company reports earnings on Thursday, 2/16 so I will be keeping exposure light until we see the numbers and how the stock reacts.
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