Here’s One Way To Set Your Target Price
Netflix (NFLX)
broke out of a narrow trading range on extremely heavy volume and
closed right at the April 15 high yesterday. I decided to include the stock on
my watch list.
10:09:11 (from TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
NFLX | buy stop at 12.81 | pullback | 12.70 | 12.94 | 12.74 |
TK |
Now. let’s look at the 5-minute
chart from this morning. The stock took out yesterday’s high at the open, but
sellers immediately stepped in. NFLX tested the 50-period EMA successfully, and
appeared ready to move out of a pullback. I decided to place a buy stop at 12.81
with a target price of 12.94, slightly below yesterday’s high.
10:15:49 (from TradersWire)
Follow up on NFLX
It has hit our target price. Sell half and move stop to breakeven.
Feel free to mail me your
questions.
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