tsx_trader

FBIO - Bullish channel trade

NASDAQ:FBIO   Fortress Biotech, Inc
2021-11-19

Markets are mixed, possibly turning bearish (near all time highs)
FBIO has underperformed the market
FBIO is presently in a bullish channel


Bottom of channel has been tested 3x
Expected to continue trading within bullish channel upwards.

This is a technical trade. Hoping to touch my target for a sell. If this turns bullish and runs, will hold. No upcoming events to be concerned about.

Avg price: 3.09
profit taker = 3.54
loss = 2.94

I entered the trade hoping that this stock will stay inside the channel and not fall below.
Comment: Stop loss triggered

Market is really hard on growth stocks atm and is rewarding the tech giants which are setting new highs