RACE - This to the upside

436 14 6
There may be a good chance this goes up.

Keep this in mind. This is a subsidiary IPO , not a fresh IPO trade. Stay nimble and trade smart,
Comment: Generally a fresh IPO is will most certainly bounce after a ~15% Drop. This is a Subsidiary of FCAU (Fiat)

another note - Options were added yesterday, along with Weeklies.
Comment: Although it traded Down, There is no change it plan here. I will Keep this behind my Radar.

In future, for those interested, I am planning to add the Earning Zone Trade setups and the IPO picks. I will open a new blog and keep those running.

Let me know if you are interested, as it is time consuming to post and maintain everyday during earning season, Without enough interest I will skip that idea.
Comment: Do Not chase the breakout @ 52....... Wait for a pullback. Use Stage Analysis.
Comment: High Volume zone clearly shows the resistance / support. Hold, w/ breakeven stop
Comment: With the weakness in the market, I want to see this either hold the level of $53.50 and breakout. Be on your toes and manage this well.

If you follow my comments, you shouldn't be exposed to a lot of risk, at this point.
Comment: Coudn't update the Status on this one, Had quite a lot of trades, going into FED announcements. Hope No one got hurt badly here.

Based on the last few comments, you should have closed this one or stopped out..
good news - i did get above the down trend line

Bad news , it is still following it down
G13Man G13Man
PS , thats why to use a trailing stop or manually move ur stop up when in profit !
Still Hanging in there?
what is break-even stop
Move your current stops closer to the buying price. Reduce the risk, while you are exposed.
+1 Reply
Is the trigger the purple resistance or 52 still at this point?
Volume Profile - Heavy volume area - $52 still intact so far.
+1 Reply
Im interested in New IPO coverage a lot. High volatility brings potential for more swings, would also show how good are your predictions and score if right. (PS - i of course will use my own guidance with your ideas)
thanx for the upate
At what price you expect RACE going up?
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