My Trade Plan Details:

• PATH Dec 29, 2023 $27 calls near $.40
• Stop: Close under $24.50
• Target 1: $28
• Target 2: $30

My Reasoning:

This week, I think the market will continue to be strong, and I want to go with stocks that are close to a breakout and an uptrend. 

One of the stocks that’s high on my list has extremely high short interest, and has been making consistent new highs for the year.

My Bullseye pick this week is to buy UiPath (PATH) calls.

Today, my plan is to open up a new position with PATH calls, hopefully near my target entry price. I am not too worried about getting the exact price, but I want to be close to my target entry.

I am going to keep a tight leash on this trade though.  If I see that PATH is going to close under $24.50, then I will cut the trade for a loss.

If I am right, then we should see a breakout near $28 as my first target, and possibly a quick pop to $30 after that if it really starts to move.  

We saw the same type of move happen the last few weeks with other picks, and I am hoping this leads to a breakout as well.