When to buy WSTG?

WSTG showed a very good recovery after the Covid-19 fall in March’20. The lowest price was $9.52. After that, this stock is in an uptrend.

After analyzing the last one year data this particular stock is sensitive to the following candlestick patter if this pattern shows up with any sort of resistance line, mostly near or little under the EMA 21 line.

Chart courtesy: Webull

On 18 march’20 it formed a green hammer then a full green maruboju which showed the full control buyers.

Before 2020 whenever this stock started a rise in price most of the time the rally started with a hammer the within 3 days a full white maruboju confirmed the uprising.

Enter the trade after confirmation, the second candle, set a stop loss at a little lower thane the 1st candle. If you are in profit then set a trailing stop loss, my preference is 2-3%, so that you don't lose all of your profit when the trend goes to your opposite side.

When you want to buy WSTG for a swing long trade you should consider waiting for this type of pattern.  

Wayside Technology Group Compny profile

Wayside Technology Group, Inc. is an information technology (IT) channel company. The Company distributes software and hardware developed by others through resellers indirectly to customers across the world. 

The Company operates through two segments: Lifeboat Distribution and TechXtend. The Lifeboat Distribution segment distributes technical software and hardware to corporate resellers, value added resellers (VARs), consultants and systems integrators across the world. The TechXtend segment is a value-added reseller of software, hardware and services for corporations, government organizations and academic institutions in the United States and Canada. The Company offers a line of products from publishers of software and tools for virtualization/cloud computing, security, networking, storage and infrastructure management, application lifecycle management and other technical domains, as well as computer hardware.

Courtesy: Reuters

Day 0

I am starting a 10-year journey in the stock market from 10^th August 2020. I think this is a good time for starting this journey although there are a lot of uncertainty going on like coronavirus cases spike, US-China tension etc.

In this journey I am starting with a capital of 2000$. There will be 3650 days in this 10 years, 520 weeks and aprx. 2520 trading days. I will invest 10$ on every single day in the journey, which will be another 36,500$.

In this journey I will only trade stocks and etfs. There will be a different profit targets in every week and it will be increasing in every week.

I will start from buying single stock. I will post the reason behind the buying with very easy analysis.

This blog will be the diary of my journey.

It is not a “get rich” quick scenario. I will not win all the trades I will take in the journey, but I will try to do so.

I will treat my trading account like a newborn. I must take care very well so that I can raise it very well.