abusedsurfer7
Long

If ~$8.30 price level holds, go long

NYSE:GNC   GNC HOLDINGS, INC. CLASS A
The price level around $8.30 seems to be a new support on the 1H daily and 30m daily charts . I'm looking at a bounce of this area and rally up to the most recent high of $9.57.

I'm looking to enter this swing trade at $8.40 with a target price of $9.50 (14.5% profit). The stop loss is set at $7.50. Total shares will be 100 and a risk:reward ratio of 1.5. Total at risk is $81 with a target profit of $120.
Comment: Looks like a bearish candlestick has formed. Looking for a pullback to support around $7 now.
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