Long BTUJ - believe we reached bottom post results and due to exit of dividend holders. Despite the volume, no major drama on the selling front. Fundamentals look good.
Technical levels:
SL 659 - Essentially just below the 2018 low or 7.25% from current price.
T1 - 820
T2 - 930 (might want to trail that one if momentum look good)
R/R = 2.7
*****
Sample numbers trade (numbers are indicators only):
1000 BLUJ @ R7.37 = R7370.00 = ~$513.00
Risk = R0.78*1000 = R780 = ~$55.00
Total TP = (R1.61*500)+(R2.71*500) = R2160 = $150.00
****
I'll update as the the trade goes along.
Technical levels:
SL 659 - Essentially just below the 2018 low or 7.25% from current price.
T1 - 820
T2 - 930 (might want to trail that one if momentum look good)
R/R = 2.7
*****
Sample numbers trade (numbers are indicators only):
1000 BLUJ @ R7.37 = R7370.00 = ~$513.00
Risk = R0.78*1000 = R780 = ~$55.00
Total TP = (R1.61*500)+(R2.71*500) = R2160 = $150.00
****
I'll update as the the trade goes along.
Trade closed: stop reached:
Trade closed with loss. No ideas on reentry. Fundamentally still want to love this stock, but awaiting more technical information.