A breakout on above average volume on this stock, Top Group and EPS rating from IBD
earnings in mid May,
The stock is coming out of a cup with a handle
Risk on the whole thing is 1% of portfolio
With the Market turning back into trend mode, we are back to looking for trades...
INGN, is with a rating of 96, broke out this morning when it ran the 136 area... From a FlatBase trading range.
We are long just north of that, with stop loss at 126.41
A CANSLIM stock with a 98 rating, that is just coming of the cup and handle pattern....
I am not entering as a market order, as I want to see strenght of the market trigger this one...
SL is 5%
TP is open, but typically I will try for 3 to 1
Stock just breaking out of a cup and handle base, which it spent 32 days building. the stock passes my checklist for growth and profitability.
Looking for a 25% gain on this one... Next earnings is due in mid April, so will keep a tight SL of 7.5%