November 11, 2020, 2:36 pm EST
2020 Actual Trade: AVTR +17% Profits
As mentioned in our August article (gold member) Mission Critical Products for COVID-19: Avantor Inc. (AVTR), we began tracking AVTR for an entry point and finished up with +17% profits for about two months of smooth holding. Here are the highlights and experience on this trade:
Fundamentally, AVTR is on demand due to its product in the healthcare and biopharma industry during pandemic.
- Technically, AVTR kept rising from March to April that indicated strength
- April 30 gap-up breakout formed a tight rectangle base until July 30
- Another gap-up breakout in early August got our attention to look for entry point.
- Opened the position in September for potential breakout attempt which is about 2 weeks earlier than the turning point in the beginning of October.
- Although it was up and down, there was no threat to hold this position.
- Then, November is the time for a quick run and profit taking with +17%.