hungry_hippo

ERIC Range bound

Long
NASDAQ:ERIC   Ericsson
ERIC has some range bound trading going on.... looks like it should gap down Monday.

If it gaps down and Trump doesn't do anything stupid over the weekend, then I'm throwing some in my 401k. Not buying crap that's topped out like FAANG stocks.
Trade active:
Decided to roll 1k share here, target is obviously $10.

Will add next week if it dips further. This is one of those safe plays since it's obviously range bound and will hit $10 before next earnings
Comment:
Added some more today, looks like a possible reversal.

Earnings coming up July 17th, due for a pre-earnings rally.
Comment:
Sold 4k shares out of 5k, holding 1k shares for earnings. It would have to go below $9 for me to lose money now.

Playing it safe because I got burned by NOK. Nobody like sto lose money in their 401k.
Comment:
Added some today. Earnings less that 2 weeks away.

Somehow I'm not surprised it dropped today, that's why I dropped most of my share Wed.
Trade closed manually:
I'm thinking the market's gonna dip here sooner or later, the Euro market isn't rallying. Selling all shares, made $1k total off of this so not the worst trade I've made but at this point the risk/reward isn't there.
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