$IOT - A promising growth story, but not ideal for swing traders
$Samsara, Inc.(IOT)$ - A promising growth story, but not ideal for swing traders. A lesson to share.
Since IOT's IPO in late 2021, I’ve taken four trades, all resulting in losses. Upon reflection, while two trades during Q1 2023 were likely unavoidable, the subsequent ones in January and March 2024 could have been avoided with the price action remained sloppy and choppy, failing to respect any of its moving averages consistently.
It’s easy to get excited about an impending all-time high breakout for IOT, but one key lesson I’ve learned over the years is the importance of linearity in historical price action—providing the confidence that it won’t revisit your breakeven level too quickly.
If you are very tight in designing your trade ideas (entry and stop), I highly recommend to avoid this in the mid term.
Image
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
