JimMakos
Long

PRAA stock price is testing a key support level

BATS:PRAA   PRA GROUP INC
91 views
0
91 0
Here is the 4-hour chart of Portfolio Recovery Associates Inc. http://goo.gl/xXAYwl

Why I'd go long:

1. Key round number ($50).
2. Found support before (July and August).
3. Support confirmation on the 4-hour chart with bullish candlestick .
4. Volume increase.
5. Bounce off the lower band of the downward trending channel.

If I bought at $52 and set a stop loss of $2 per share, I'd sell 70% of my position at $54 for a 1:1 risk/reward ratio trade. I'd move the stop loss to breakeven point and would be looking to close 20% of the position 10 dollars higher. That would leave out 10% of my position for long-term gains.

Will you be trading PRAA during holidays?
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out