Trade Setup
Envela Corporation, together with its subsidiaries, primarily buys and sells jewelry and bullion products to individual consumers, dealers, and institutions in the United States. It offers jewelry and fine-watch products, including bridal jewelry, fashion jewelry, custom-made jewelry, diamonds, and other gemstones, as well as watches and jewelry components.
Stocks found in the category TradersPro New Uptrend are low priced stocks priced between .50 and $3, with at least 50k shares of average shares trading per day. The stocks are starting new uptrends and have buy signals. These are high reward to risk stocks with the potential for very sharp moves. A stop should be maintained at the low of the most recent hold signal day. Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro. Trailing stops or letting the stock run until the next sell signal is also a sell strategy.
