So here is one oversold stock you might want to add to your trading watch list in 2024. What's good on team? It's Riy here with Techb Solutions and today we're going to be talking about Hershey's that offers nearly a 50% Roi Taking previous highs and Curr current price point into consideration I Really hope that you learned something new I Would love to make more videos like this and if you would like to see more all I literally ask you to do is smash that like button subscribe to the channel so again you get notified when it is that I upload these videos without further Ado Let's go ahead and jump into it and this stock was brought to me by one of my good friends Weston from Arkansas it's one of my boys and he said hey I think that you should look into Hershey's it looks very oversold and this is one of my favorite Things to do is not only just myself but I Love seeing my close friends I Love seeing people that you know uh, even just are subscribed to the YouTube channel that share their trade ideas or their investment ideas with me because at the end of the day we all see value in different ways. But when someone presents to you something that is very similar to the criteria you see valueing, it's just like ah, it's It's really nice to see again. It doesn't mean that you have to see value in this.

I Just wanted to bring this to your attention for two main specific reasons. First, this is Hershey's ticker symbol hsy the reason that I wanted to talk about this is I Like how bullish Hershey's has been in its past. If we look at this overall week chart, Hershey's from the very beginning has been a consistent uptrend pattern. higher highs, higher lows always indicating signs of an uptrend.

The recent pullback that we've currently experienced has brought it back to the moving average on the week chart or if you see it on the day chart. it's really been selling off for the greater half of 2023. So where does this put it for 20? 24, right? Let's make this very simple. The second reason on why I see value in this is not just because of its direction and how bullish it is, but also because it's so bullish.

This pullback looks like a great deal. It has pulled back enough that now it makes it attractive enough that if not that, it has to. But if it begins to recover from current price points to previous highs, it offers a 48% Roi in a perfect world. But again, I'm not a perfect investor I'm not a perfect Trader and this is definitely not a perfect role.

so you always have to leave some margin for error. but it's very bullish. Recently oversold based off of current patterns, and you know great Roi potential if it ends up recovering the thing that I would need it to do right anytime. I Look at something like this is okay I appreciate and I respect its history of higher highs and higher lows.

It's pulled back enough that I find it to be attractive now. I Ask myself a very simple question: what do I need Hershey's to do for it to be a stock worth investing in. On the technical side, we have not seen Hershey's trade above the EMA and hold above the EMA showing signs of higher highs and higher lows. So you might be asking Ricky what do you mean by that Do you see When it was rallying back in 20122 it was pushing up, pulling on back, holding above EMA pushing up, pulling on back above EMA pushing up pull back pullbacks are part of the process.

This is something that people over complicate. They think pullbacks never happen. No, they happen. but they happen above the trend.

They happen above the EMA and above the moving average. All we've been doing since the selloff has been getting rejected by EMA. So again, what do I need this to do for me to feel more comfortable putting some money into Hershey's I would need it to show signs of higher highs and higher lows above the EMA. Another thing a lot of people over complicate is they always focus on either buying it or trying to buy it at the lowest price point.

Very dangerous because the cheap can always get cheaper. But they also forget that they try to jump in right away that they don't take into consideration that this thing has huge upside potential, right? So I don't need to rush into this opportunity. We just talked about it: 48% Roi is what it offers in a perfect world. Even if I catch 20% of that, that would be an amazing investment in 2024.

And guess what, based off of previous highs in current price point 20% out of the 48% that's a lot of margin for error. I I Can I don't have to buy at, you know, 185 I don't have to buy at 190 I can stay patient I can wait for it to break about VMA show signs of higher highs and higher lows I can wait for the break above 200 I Can wait and stay patient, stay light on my position until it makes sense to me. But there's two main things that I would like to focus on for this to trade above the EMA and show signs of higher highs and higher lows just like it has in the past before on that EMA right on this day chart. The biggest thing is that you need to remind yourself that anytime that you're going in early into a position, the potential for risk is a little bit greater.

So the thing that I like to do is I like to size down, meaning that if my intention is to invest $50,000 into Hershey's I don't have to buy $50,000 all at once. This is what we talk about in our learn Plan Profit Lesson Library That's designed for beginners. We talk about the beautiful concept of averaging up when direction is in your favor. Let's say my goal is to invest $50,000 my initial position if it breaks above EMA and show signs of higher highs and higher lows I can wait till buy at200 and I can buy $10,000 worth of it I can buy out of the 50,000 I only have to use 20% of that, so $10,000 I can even just use 5,000 There's there's no perfect picture of how much money you need to put in right or what percent it should be.

The idea is if you feel uncomfortable early on on, then you can either stay cash or stay light. And this is the thing that I Want to remind you in 2024, you will never be perfect with any of the trades or any of the Investments that you choose to take. There's always going to be uncomfortable scenarios. The point of this by staying light is that during those uncomfortable scenarios that you can tolerate those worst case scenarios, right? I Think that's the biggest thing is when I stay at least just for me.

You let me know down the comment section when I'm lighter in my position so if I'm in with 10K but I can tolerate a 50k position when I'm lighter with my position I can tolerate those pullbacks those red days a little bit better I still think a little bit more clearly when I'm in with the full 50k and I know I'm not going to buy anything more of it I'm kind of like more stressed out. so again, it's kind of like the dial the volume if you're early into your if you're early into your position or you view it to be a riskier trade. Then again, the idea of being lighter isn't the worst concept to potentially approach, especially if you tend to rush into series of trades, right? So the first thing break above EMA Second thing: I would like to see higher highs and higher lows and the third thing is again focusing on my position size I Don't have to be fully invested at any given point I Can stay light, feel comfortable, and not just think about all the money I could potentially make, but also take the risk management and the potential risk into consideration that things can get worse before they get better. So this is why we stay patient and truly allow the opportunity to present itself.

The thing that I always love to tell our Lpp Traders is when thinking about entering a position, but you're thinking you're potentially entering a little bit too early. Keep it very simple: are you missing out by not being invested if it's still early on, right? just like I showed you with Hershey's if it's not indicating signs of an uptrend and just continues to sell off, why would I rush into buying a stock that is only losing more value? I'm not missing out on anything, if anything, I'm possibly saving myself s money by not being invested. So again, let's keep it simple: if I'm not missing out by not being invested, then there's no reason to rush into that trade. and again anytime that you are uncertain, either stay cash or stay light just to make sure that if it ends up being a risky trade, it's easier to tolerate if you ever have any questions about this.

I Work with my Lpp team every single morning during our live trading sessions. It's a great time for beginners to get an inside look to behind my entries, behind my exits, behind every trade I take during those live sessions. But most importantly, you also get to hear my thought process behind those trades, especially in 2024. if you're trying to do things differently.

I Would love for you to join me and be able to have access to my daily live trading sessions and if you want to check it out, it's going to be that second link in the description down below. I Will be trading live as soon as tomorrow, so if you want to tune on in, click that second link, sign up and I'll see you tomorrow at Market Open for our live session. If you have any questions before signing up, shoot me a direct message right now via Discord or via Instagram and that's the first or third link in the description down below. I Appreciate your time like always.

Let's make sure that we end the year on a green no take care team.