AOD for High Dividend, High RewardAOD Pays a monthly dividend of about .6 cents per share. Ex dividend date is the 21st of this month i believe
AOD found a double bottom back in February and has been on a bullish run since making higher highs and higher lows, as well breaking through moving averages and then finding support at them. Then Brexit happened and it formed a lower low. I believe this low is going to be a tough support to break. It is going to have to take a pretty significant event to beak the new 'Brexit Low'. My plan is get triggered into this trade and hold for the monthly income until we get at or above the 2015 highs.
My setup for this trade is:
Trigger: $7.24
Stop: $6.81
Target $9.10 (2015 Highs)
If this trade works and the stock reaches its target I will not sell my shares but move my stop up to 2.5R which is about $8.30 and collect monthly income until I get trailed out. If the trade doesn't work I will lose than R since ex-dividend date is about a week away
Long