Picture perfect cup with handle breakout. Market is very bad so taking 1/3rd partial profits at 1R and backstopping to breakeven. Next 1/3rd on 2R and let the last third run for a bigger.
Comment:
Great relative strength vs the indexes today. I don't think this stock is going to be a great winner but if im going to be invested its going to be in names like this. My overall exposure is less that 3%. This new rally attempt, showing signs of distribution just the next day after a FTD, is showing small odds of persevering.
Comment:
Took 1/3rd profit at 1R. Moved stop loss to break even. It's all upside from here.
Trade closed manually:
Sold at breakeven to de risk