HP Retest Resistance

Overview:

• SPN pulls ahead of other SP500 categories for YTD returns
  
• HP performing quick second test of resistance
  

Current Trend:

• Hp was sideways/bearish
  
• Increasing volume leading into recent tests of resistance
  

Trade Plan:

• Enter HP at end of day (5/5) if above resistance line
  
• If fails to break resistance put back on watchlist
  Target Profit:
  
• Sell 100% of position at $31.40
  Stop Loss:
  
  • Initial $26.96
    
  • Trailing to low of previous day
    
  Risk Reward Ratio:
  
  • 2:1
    
  • My trading plan dictates that this is my minimum ratio
    
  
  Disclaimer
  Not investment advice. Thinking out loud in a crowded room.

Order cancelled:

Rotated back to watchlist