Early today we posted the awesome setup in AMBA. Here’s another trade that Steve Spencer talked about before the market opened.

ACAD has been a high flyer lately. Many developing traders run into a psychological barrier when it comes to long ideas on stocks that have already risen 20% in a few days.

Here was Steve’s take pre-market

End result… ACAD trades down to the identified support level, bounces, and runs up another 8%.

Just like AMBA this morning… all this happened while the SPY was trading in a 36 cent range.

Our firm is on the hunt for the best opportunities in the market and we openly share these ideas with our subscribers.

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Trades are hypothetical. No relevant positions.