BK - 7.90% Potential Profit - Bullish Pennant Long

The Bank of New York Mellon CorporationNYSE

Description

⋅ May 4, 2021 10:34 AM

The level of confidence in this trade is moderate. While I like this setup, I am not fully convinced about the target price.

Bullish pennant formed after a 6-month bull run, betting on momentum keeping going.

- Target Entry: $50.32
- Target Stop Loss: $49.34
- Target Exit: $54.22
- Risk / Reward Ratio: 3.98

About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss

Trade active

⋅ May 4, 2021 1:57 PM