We are looking for a reversal higher by high growth/tech stocks this week but catching two falling knives is not prudent in our opinion, we prefer the idea of catching one and positioning in another if/when a recovery starts to surface.
- We are looking for a low by 360 and if it trades below $34 and reverses back up through $35, it will trigger a buy trade i.e. waiting for the reversal rather than pre-empting it.
Trade Idea: Buy Life360 Inc (360) at $35 if it initially breaks $34 – stops will be placed below the December swing low at the time.
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