CHINDATA GROUP (NASDAQ:CD) momentum breakout alert!

TRADING IDEA (Momentum Breakout)

Chindata Group Holdings Ltd. operates data centers. The company is headquartered in Beijing, Beijing and currently employs 1,315 full-time employees. The company went IPO on 2020-09-30. The firm operates two businesses which are colocation services and colocation rental. The colocation services business provides a range of services, including utilities, hosting, cooling, operating and maintaining of clients' servers and equipment. Read the full profile here.

STRATEGY

Momentum Breakout Setup (Short term)

1. clean breakout during last trading session (+12%)
2. increased buying volume
3. closing price higher than $8.35 (latest resistance)
4. long term trend on weekly chart becomes positive (bigger buying volume)
   

Last earnings: 2022-05-26

Next earnings: 2022-08-24

ACTUAL SETUP

• Buy Stop | $8.81
• Limit | $8.90
• Stoploss | $7.88
• Target | Hold between 2 - 5 days
  
  

ADDITIONAL INFO/TIPS

• Use our ChartMill Postion Sizing Tool to calculate the maximum number of shares you can buy, depending on your available capital!
• Why using Stop Limit Orders?

Disclaimer: These trading ideas are merely to demonstrate what ChartMill is capable of and shows some typical results of a breakout filter. It is in no way actual financial advise to invest or trade in these stocks. The author has no pre-existing position in any of these stocks.