This is pretty early but this one just caught my eye because its making new highs and that hammer today closed right above the GLB .
I want to note some potential cons :
The volume is low , price action messy
The earnings are kind of sub par
I see some inside selling , from late may too .
But a GLB is an important area of interest and todays hammer looked nice and the rest of my focus list is honestly looking kind of weak . So even though there are some things I don't like I still decided this is a valid trade . The GLB paired with the Hammer PA is what stands out most .
Institutions own 95.8 % of float and institutional transactions are currently positive too . Strongest in its group ( with some filters ) , should note that group is not overall strong , so if we see more related names start to uptrend , might just learn that POST is the leader ...
A GLB is also called a Green line breakout - It basically is a strong stock breaking out to an all-time high (ATH) after at least a 3-month consolidation. See Dr Wish for your GLB meds ;)
Trading Plan
Entry 81.09
Stop 79.15
Sell 1/4 @ 1R and tighten stop , this right at nearest resistance too
Sell 1/4 @ 2R same stop
Sell balance on a close under the 10/21 ema's and some on a climax too ( optional )
I want to note some potential cons :
The volume is low , price action messy
The earnings are kind of sub par
I see some inside selling , from late may too .
But a GLB is an important area of interest and todays hammer looked nice and the rest of my focus list is honestly looking kind of weak . So even though there are some things I don't like I still decided this is a valid trade . The GLB paired with the Hammer PA is what stands out most .
Institutions own 95.8 % of float and institutional transactions are currently positive too . Strongest in its group ( with some filters ) , should note that group is not overall strong , so if we see more related names start to uptrend , might just learn that POST is the leader ...
A GLB is also called a Green line breakout - It basically is a strong stock breaking out to an all-time high (ATH) after at least a 3-month consolidation. See Dr Wish for your GLB meds ;)
Trading Plan
Entry 81.09
Stop 79.15
Sell 1/4 @ 1R and tighten stop , this right at nearest resistance too
Sell 1/4 @ 2R same stop
Sell balance on a close under the 10/21 ema's and some on a climax too ( optional )
Trade closed: stop reached:
I actually tried to close this near end of day yesterday on the wedge drop but my new laptops clock was off by two minutes and I missed the close lol , tech eh .. Paid for it with a gap down today but shorts from last night balanced things at least .
艾力克~