Here’s your trade on Dave, Inc. ($DAVE) – February 14, 2025
Dan Fitzpatrick here at StockMarketMentor.com. I want to look at Dave ( NASDAQ: DAVE ) today.
This is a stock that we put a trade on a few days ago and it’s doing really well. I don’t think it’s too late to be buying this stock. First, we’ll look at the volume. The last three days it’s been rising. I’m surprised, pleasantly, that today, on a long weekend, we’ve got higher than average volume. That’s a good thing, it lends credence to the idea that this stock is going higher.
The idea was, back here the stock had tried on a few different occasions to break out above 100.00. Once it closed above there, this was on about average volume, and then the following day, bam, we got a big continuation move on twice average volume. But as will often happen, that big move higher, at that point kind of ran its course. Three days in a row this was a big move.
Then the following day the stock pulls back, that’s not unusual, not alarming, that’s fine. It tested $100.00 and then rebounded. This little continuation move here reinforced the idea that this is institutional buying. Boom, volume, a little pullback, pretty nice here. A rebound, decent volume, more than decent volume here today. So I’m looking at this as continuing to print new highs.
As I look at this prior channel of $100.00 here and then down to 80.00, this is the width that I’m looking at. And so, $100.00 plus 20.00, gives this $120.00 probable move. So for now, this looks like it could be a good time for this to pause a bit. I think the uptrend is really, really clear. This is a recent IPO, once IPOs get their legs tend to do really well. You can see what the earnings reports were, they were pretty good, pretty decent all the way along.
My suggestion is, if you’re looking for a trade this could be the one. Then you just keep your stop a little bit below $100.00 if you want to give it a looser stop, which I would because this stock could flop around here for a while. Again, because it’s hit this first target of 120.00. Also, you’re probably looking at this video after the close, so then you are going to be looking at this on Tuesday and see what happens. But all in all, this is a stock that’s going higher. That’s what I think, you make your own decision.
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