AWAY has seen massive accumulation lately after breaking what I view as the IPO base. This company is similar to Airbnb where consumers stay at other consumers places versus going to a hotel. However, AWAY is the public's best (only?) way to play. The base break targets at least 38, and we would love to invest in it. The question is where do we buy? Since there is little price history in the name we use other tools like the Point and Figure chart (more here: http://support.stockcharts.com/forums/30077/entries/21293 ) and the Ichimoku Cloud (more here: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:ichimoku_cloud).
You can see this falling trendline just above at 32. Basically a close over 32 confirms the base breakout signal. Therefore, we can wait for it to happen and comfortably add.
The weekly cloud chart shows the top of the cloud is close to being breached around 31.50. This may be a large enough clue that 32 will also break. Given the magnitude of these levels, we wouldn't be surprised if the signals came on a 6-7% gainer day. It may be soon, so we're paying attention!
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