This is a stock that I just opened as an active trade on our list. Check out Teucrium Fund ($WEAT). (May 12, 2022)WEAT
Dan Fitzpatrick here, stockmarketmentor.com. Teucrium Wheat Fund ( NYSEARCA: WEAT ), an ETF, basically. It has traded over 9 million shares today, yesterday it had a big move. And by the way, we still have a little over an hour to go in the day. And so, judging by the way this is trading we will probably get close to the same volume as yesterday. But you will notice here, that this is a 5-minute chart, this tends to trade in these big blocks. The biggest blocks are virtually all buying blocks, all of these down here.
This is a stock that is under accumulation. I had first seen it yesterday, I think I saw something on IBD on it, something like that. It wasn’t my original idea I just saw it, it helps to have your head on a swivel, looking around. This was a really nice volatility pop and I decided that if it goes to a new high today, 11.34 was yesterday so if it goes to a new high today or tomorrow or whenever, that’s when I will buy the stock.
So it popped up today, that’s when I bought the stock. So I am giving it to you, it’s not up that much more. But the way this stock is trading I don’t really see any reason why it can’t move up to there. It was there before on a big spike, see this big squeeze here, this is even a tighter squeeze than this was back here. So this could turn out to be one big long consolidation base before the stock moves even higher.
I like this, what I would suggest doing is, that you have got to manage your risk, so the way this is trading I would give it enough room, frankly, to even move below the 50-day moving average. If you are really skittish, of course, you can keep a tighter stop, but the tighter you keep your stop, the more likely you will get stopped out.