Unilever shares surged after Kraft Heinz announced plans to purchase the company. Talks have subsequently fallen through. Expect shares to come back to earth again on Tuesday at market open. There's strong potential for an "impulse" play here, as the stock will likely open low and continue lower.
- Enter immediately at market open on Tuesday, Feb 21st.
- Set stop loss at $49.
- Set what I call a "moving target" goal. Original goal should be the $46 line, but if it breaks through on volume hold the position (or add to it) and set a new target above the $42.66 resistance line
- Enter immediately at market open on Tuesday, Feb 21st.
- Set stop loss at $49.
- Set what I call a "moving target" goal. Original goal should be the $46 line, but if it breaks through on volume hold the position (or add to it) and set a new target above the $42.66 resistance line
Order cancelled:
due to how much it gapped down (beyond the support line was my expectation) I never entered this trade. However I will be watching UL stock closely in the next couple months as it has proven to be volatile, and volatile is great for swings!