I think I just discovered what could be the best stock to trade this summer.
This company has nothing to do with the following:
- Artificial Intelligence
- Electric Vehicles
- The Medical Field
Yet it will deliver some of the best opportunities in the coming months.
I’ll tell the stock, why I love this catalyst, and how I plan to trade this.
My Early Pick For Stock Of The Summer
Last week, I traded the ticker symbol MGOL on Wednesday, Thursday, and Friday.
It’s the symbol for a company called MGO Global, which happens to be the brand manager for Lionel Messi.
And ever since it was announced that Lionel Messi was taking his soccer talents to Miami and joining the MLS…shares of MGOL have been super active.
And while this is massive news, I think it’s still under the radar.
That’s because the deal isn’t official yet, and other sports, like the NBA Playoffs, are in the spotlight.
However, as we inch closer to the announcement, I believe there will be opportunities to trade MGOL.
Lionel Messi’s Inter Miami Expands the Brand, Seeks New Trademark Amid Blockbuster Signing
The stock immediately exploded…going from a low of 1.83 to a high of $2.56 in about 15 minutes.
However, I didn’t jump on it immediately.
But will consider it next time if it happens.
Luckily, the stock sold off those highs, allowing me to dip buy.
I was able to get in at $2.17.
My goal was to be patient and see if it could make a run to the $3s.
One thing I like about this play is that it’s legit news.
This isn’t the company just trying to pump its stock up.
Also, MGOL seems legit. The company’s co-founder is Tommy Hilfiger’s sister, who has a lot of experience in fashion, merchandising, and e-commerce.
With all that said, these are just trades for me. I don’t look at them with the same amount of detail that an investor would.
I’m more concerned about finding a setup and trying to take advantage of an opportunity. And if I do it perfectly, that means my trades will be quick.
But the same is true if I’m wrong. I will be quick to cut losses.
Two Main Reasons This Stock Will Make Good Trading
#1 The catalyst is ongoing.
Lionel Messi is one of the most popular athletes on the planet.
We will be hearing about his move to the USA for months.
#2 The structure is good.
For example, it’s a relatively small market cap with a market cap of under $50 million. In addition, the float is low, with around 6 million.
The Top Two Ways To Trade MGOL
In my opinion, these are the two best ways to trade MGOL.
#1 Off the Breaking News Alert.
As I said, this stock is still kind of under the radar. I don’t expect that to be the case for long. But if you have the Breaking News Chat service and you can see it as happening…playing a breakout is one way to attack this play.
#2 Panic Dip Buy
I don’t think this story will be dying down soon. That means dips might create opportunities. It did for me on Friday, after the stock hit $2.56, it dropped to $2.17, where I got my chance to enter.
It was a great entry because the stock made new intraday highs.
Look for recurring themes. The reason why I like MGOL is because this story is just getting started. And because I like to panic dip buy, this is a perfect stock to keep on my watch list.
Also, you want to be patient. I missed the initial entry of the breaking news story.
However, I remained patient and waited for a chance to dip buy.
Forget what the talking heads say…we are in a bull market. And in a bull market, you have plenty of chances to make money. That means you don’t have to rush into trades if you miss your first entry.
In fact, this strategy has been one of my best performers right.