2 Days New 78 Day High - making 45% return in 38 days with FSI

Last Feb 25 and 26, 2019 we have a stock that hit 2 consecutive days of New 78 Days High. The stock is FSI (Flexible Solutions International Inc.)
As we examine the chart we have the following observation based on the 6mon chart window. I am trying to find out how we can measure the move of this stock without looking back as far as 2 years span.
See for yourself the chart.
http://charts.stockfetcher.com/sfchart/wtHuG43zBh.png

Here's the winning chart using Tradingview.com on a 6 month period
   https://www.tradingview.com/x/Z70OWar0/

Here's how it looks like in a 2 years chart.
    https://www.tradingview.com/x/fcRgEGjK/

4 WINNING ITEMS TO CHECK ON Double day New 78 Day High

1. 2 consecutive days of New 78 Days High (See N782d)
2. A volume breakout after 6 months (See 110Bars/6mons Vol B/O)
3. Gap-up 10 days prior the New 78 Days High (See Gap up)
4. 30ema and 50ema crossed above 200ema (See black and orange line crossing upward against the blue line near where you see N782d)

TARGET PRICE CALCULATION:

From these scenario we calculated our Target Price (TP) based on our formula:

          TP = ((PH - VL) * 3) + BC

Where:

• TP = Target Price
• PH = Previous High
• VL = VCP (Volatility Contraction Pattern) Low
• BC = Breakout Close

Our Volatility low is taken by finding the low of the candle which falls on the highest volume surpassed by the volume of the New 78 Day High. In this case, the highest volume of 186K shares before the breakout volume of 330K shares is located 6months (see red high volume left of 110Bars/6mons Vol B/O) prior this breakout. This occurred  on  Aug. 28, 2018. This is our indicator volume to trace our VL. The low of the candle on this particular volume is around $1.55. So we set our VL as $1.55

PH is set at $1.85, as we can see that, it is the highest price before the breakout within this 6 months chart.   

BC is set at $2.00. This is close of the candle on the first New 78 Day High of Feb. 25, 2019. Although it really close somewhat around $1.99, we just round it off the whole number of 2.

Substituting all the values into our Target Price formula we have the following:

 TP = ((PH - VL) * 3) + BC

 TP = ((1.85 - 1.55) * 3) + 2

 TP = $2.90

Our target is set at $2.90

Entering at $2.00 with 1,500 shares gained 45% return in 37 trading days.

STOP LOSS CALCULATION

If you enter at $2.00 and you want your loss to be only at -5%, then you set you Stop Loss also at $1.90, 10 cents below your price entry. 

FSI as it hits target and beyond

Now as we look at the right hand side of the chart this is what we got on that double day New 78 Day High. FSI hits the $2.90 mark and made even to $3.15. Each dip was an entry opportunity.

http://charts.stockfetcher.com/sfchart/lv9nEljGE7.png

FSI hitting $4.50

http://charts.stockfetcher.com/sfchart/A9TsIyzm6q.png

Staying with the trade on FSI for 90 days hitting $4.50 would have yielded you 126% return. But getting into the target of $2.9 and reaching a 45% return in just 38 days is a very good return too that everyone ought to learn how.

If you want to see a 30 day simulation of FSI on Accelotrade.com visit the link below:
https://excel4stocks.blogspot.com/2019/07/30-day-simulation-on-fsi-18-minutes-of.html