Here’s Why You Should Pay Attention To Intraday Highs
The S&P 500 is trapped
in a narrow 5-point range this morning. Where is everybody? Has the
fourth of July weekend already begun?
10:36:19 (from TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Sell |
URBN | sell stop at 59.58 | double top (5-min) | 59.80 | 59.30 | 59.65 |
TK |
Look at the 10:30 bar below. It
failed to take out its intraday high and formed a bearish bar. It appeared the
issue was making a double top. The next bar was an inside bar. Again, the stock
failed to break out to a new high of the day. Notice the MACD was showing a
negative divergence. I decided to place a sell order just below the low of the
inside bar.
10:49:45
Follow up on URBN
It has hit our target. Cover your position or re-adjust your stop.
If you have questions, feel free to
mail them to me.