Forgot to make a trade journal yesterday for PLAN long. On Feb 4th, PLAN broke out to new highs but failed and revered in the subsequent days. During the reversal, PLAN hammered at the breakout point and the 20MA indicating strength. Since then PLAN is consolidating above the breakout area and possibly ready to head to new highs.
Entry - 61.07
Stop Loss - 59.10
Target - 75.00
In hindsight, I do not think this trade was made at the best timing. PLAN has earnings on Feb 24th which will cut this trade short. I do not think PLAN will make it to my target before the earnings date.
Entry - 61.07
Stop Loss - 59.10
Target - 75.00
In hindsight, I do not think this trade was made at the best timing. PLAN has earnings on Feb 24th which will cut this trade short. I do not think PLAN will make it to my target before the earnings date.
Trade closed: stop reached:
Stopped out at 61.85 for a small gain. Disappointed PLAN could not get going after the breakout. 63.50s was strong resistance and broke below the channel it was in for the past week.