PDS

Here is a new stock that came up on one of my scans. I find this stock appealing due to it being in an uptrend, and also because it is forming a 20-day breakout.

I bought this stock $6.23, which was the high for the day at the time. My rationale for buying a new high for the day is that, in my experience, if a stock puts in a fresh high, then it will usually make another high later on.

If this breakout fails (which happens most of time), then my stop at $5.74 will be hit, and this will result in me losing 1.8% of my total account equity. Otherwise, I will hold the stock for as long as the trend persists: