It's been over a month since we launched Breakout Multiplier, and oh boy have we been having fun!

We've navigated through some challenging market conditions, but it hasn’t stopped us from finding plenty of solid opportunities on the long side.

We've managed to secure several significant wins already. 

In this post we’ll review some of those winners and discuss how we’re handling our open positions.

We’ll do this at least once a week going forward.

Here’s our position tracker, updated as of this afternoon (click to enlarge):

SoundHound AI $SOUN is working its way up the right-hand side of a massive rounding bottom formation.

This pattern appeared to resolve higher with authority in Q1 as SOUN rallied roughly 500% in a little over a month.

However, it has spent the last 6 months coiling in a wide-ranged symmetrical triangle pattern, right around the base breakout zone.

Price is currently sitting in a roughly 50% drawdown from the March highs, but this $5 level is a big one. It not only coincides with a critical polarity zone at the Q1 and Q2 highs from last year, but it is also where the AVWAP from the IPO comes into play.

After breaking out of a decade-long base in 2022, Exxon Mobil Corp $XOM has been consolidating in a well-defined range above a shelf of former highs.

Price is flirting with the upper bounds of the range as buyers absorb the overhead supply at this critical resistance zone.

Here's the chart:

Rocket Companies $RKT has surged to the upside, resulting in our RKT 9/20 $20 calls doubling in value!

The contract traded at over $1 yesterday, giving us an excellent opportunity to sell half the position, effectively reducing the cost basis to zero. 

*** The calls are currently trading around 0.80 at the time of this note. Depending on ones entry price, we want to enter limit orders to take ½ the position off at a double (if have not already done so). ***

We aim to secure profits like this as quickly as possible, and then enjoy a "free ride" with the remaining calls.

This approach embodies the core of the breakout multiplier strategy.

Rocket Companies $RKT is in the process of completing a primary trend reversal as it breaks out to its highest level since 2021 on the heels of an earnings beat.

The stock holds a 13.6% short interest and a 6x days-to-cover ratio, which could spark a major squeeze.

As long as we’re above 15, we want to be long RKT.

With the primary trend just now turning higher with the completion of a textbook rounding bottom formation, we like this one over longer time frames too.

Here’s the chart, showing volatility surging higher as it comes off record low levels: