Target looking to tuck into a bull pennant formation for the next several weeks. Love the P/E, management, but today's price action broke through a fairly rock solid 1 year trend line. Will enter into a position before the weekend if it behaves as I suspect. Two entry levels, if the indices rally tomorrow, it might find support on it's flag base.
Trade active:
Legged into half of intended position @ 173,40. Looking for a morning snap back to potentially 182,40 & sell that rally - or - opens w/further deterioration & bounce back to the 175,00 level where it finds support either way.
Alternate flag base re-drawn from Dec 28 high puts March 02 close just below that trend line where it also conveniently bounced off the 1,0 Fib. Cheers
Alternate flag base re-drawn from Dec 28 high puts March 02 close just below that trend line where it also conveniently bounced off the 1,0 Fib. Cheers
Comment:
loaded up more shares of tarjay this afternoon. trading at a discount to the market. wash, rinse, repeat until goons can stop throwing rate tantrums.