I own some in my portfolio. Nice long bull trend. Bull flag is a continuation pattern in a long uptrend. The way I play a bull flag like this is to buy when the stock breaks out of the upper flag channel (above 92.53). Stop at 90.70 (C). A breakout would take PFG on to test prior high at (B) 96.17, at which point it would either breakout to new highs or repel backward to form a double top. A bull target on a flag like this would be a 1.618 extension to 99.46 (D).
P&L & W/L:
Buy at 92.53, Stop 90.70; take profit at (B) 96.17.
Max win: 3.93%
Max Loss: 1.98%.
W/L: 2 to 1
Buy at 92.53, Stop 90.70; take profit at (D) 99.46.
Max win: 7.5%
Max Loss: 1.98%.
W/L: 3.78 to 1
XLF (financials) sector has shown some bullishness, and PFG is a financial which has bucked the bear. A bull flag like this has shwon a 66% chance of continuation in a bull. (rarely reverses). But heed the stops just in case.
Always be aware of the round benchmark numbers ($100)-- they can be stubborn to break through.
P&L & W/L:
Buy at 92.53, Stop 90.70; take profit at (B) 96.17.
Max win: 3.93%
Max Loss: 1.98%.
W/L: 2 to 1
Buy at 92.53, Stop 90.70; take profit at (D) 99.46.
Max win: 7.5%
Max Loss: 1.98%.
W/L: 3.78 to 1
XLF (financials) sector has shown some bullishness, and PFG is a financial which has bucked the bear. A bull flag like this has shwon a 66% chance of continuation in a bull. (rarely reverses). But heed the stops just in case.
Always be aware of the round benchmark numbers ($100)-- they can be stubborn to break through.