Sagar
This food distributor has joined the coalition to keep food shelves well-stocked in the USA amid the virus scare.

$UNFI.

The current market is not suitable to buy stocks. You may take this post as an application of CUE analysis and be cautious about buying stocks right now, though this stock seems to benefit from the virus scare, not the other way around.

1) Breaking out of the weekly Memory resistance (2) with Bullish Pressure, while the price is at (3) weekly Extreme Low.

4) The daily is also breaking out with (5) Bullish Pressure while (6) the price is at Extreme Low (it displayed a Reversal candle yesterday).

7) It displayed a Bullish Headwind a few days ago.

8) Undervalued with (9) a short squeeze potential.

10) The industry is stronger over the last 2-days and yesterday, though it weakened a bit today.

Will this stock go up, if not for anything else but as a result of short-covering?

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Sagar
Yes. Even in this weak market, my bullish stock has gone up today by more than 20%. Yesterday it was up by more than 35%.

If I bought it yesterday, you can imagine that I booked a profit, without being greedy. That is the CUE approach. I followed that.

1) The optimal entry point in $UNFI was yesterday when it broke above Early Range High in CUE Fine-tune 5-minute chart. The stock was going up and there was major news in favor of the trade. Yesterday, at the precise time, it went above Early Range High in 5-min chart, it also broke above the daily Memory trendline resistance. 

2) Today when it hit a 20% up point, I booked a profit. The stock is continuing to look bullish. But CUE traders don't chase price. As this example shows, they are early in and in-time out.

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Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

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