As discussed in Executive summaries we bought TAX at 7.13 in 5/31/16, it was looking an up-ward momentum trade as it crossed up EMA5 & SAM20. Our first target was at 11.73, around 23% Fib Retracement Level. With our surprise Stock moved to our first target the next day giving us a chance to lock a 7% profit.
Trade Details –
Trade Logic: Momentum pattern, Long channel breakdown adjustment to Fib Retracement level 23% & further to 38%
Entry price: 11.13
Target Price: 11:93, second target 13.73
You can check our detailed analysis on TAX in the trading room link here-
Trade Suggestion Date: 5/31/2016
Trading Room - Executive summery link: https://www.youtube.com/watch?v=Gqguc2Zm040
Time Span: 5.25”
Trade Open: 5/31/2016
Trade Close: 6/1/2016
Profit/Loss: 7% return in Stock trading in only 1 Day !!!