Acadia Healthcare Co is sitting at a that was last tested in 2014, roughly 40. Will it hold this level? Who knows.
What to do?
Looking at the chart it would seem the R/R favors being long at these levels. A stop somewhere under 36 makes sense. Just have a place that you will EXIT.
The number one job of a trader is to protect capital. None of us know which trades will work, we just have to take the trades that seem to be in our favor, hold onto the winners, and cut the losers.
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