WST - West Pharma holding Key Earnings Level Support - 9% upside

360 7
Target: 59+, +9%
Stop: <53 (approx 52.5), -4%
Reason: Oversold to "Key Earnings Level" that has held declines after the last three earnings reports.
Risk: Less than half of the upside potential.
Reward: Up to the last earnings release level at the 60 level.

With the S&P futures up strongly this morning and relief from a Chinese market rally despite terrible export numbers, market participants can see that the market is oversold and short covering is the game of the day. With the idea that we want to buy low risk long positions here OR go after heavily shorted names to go long, here's a safer one that is right on support that isn't looking UP big this morning.



9:18AM Tuesday Sept 8, 2015
Oct 29
Trade closed: target reached: For anyone brave enough to have stayed in all along - the ride was worthwhile.
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Exit here on this strength - given the weakness in the market - it's time to walk away here - near $58 this morning (up 2%+) with the market -1%. 9/24/2015 9:40AM EST
timwest timwest
Ideal exit there! No replies from anyone? ... Down to $53.50 last, $53.10 low today from $57.80 on 9/24/2015 at 9:40AM EST
timwest timwest
I'll put together a buy report down here... but it will take awhile... maybe in the morning.
Hi Tim! I like your post btw.... Why are you setting your target to 59? Wouldn't 57.05 be more closely related to the next breakout?
timwest PhoenixTrade
I put the target at $59 because that is the KEY EARNINGS LEVEL and a major resistance level. It is the price that WST reported earnings. If you want charts to be graphed easily the way this one is, check out "KEY HIDDEN LEVELS" in the marketplace add-ons section. It's about $1/trading day.
Nice R/R.
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