This Is Why You Should Pay Attention To The First PullBack
The Nasdaq Composite
Index gapped down at the open. Although the index is currently down
16 points, it is still trading inside of yesterday’s bar. As you can see below,
the stochastic is in the overbought zone.
10:00:32 (from TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
VRTX | buy stop at 12.32 | pullback | 12.20 | 12.47 | 12.30 |
TK |
Credit Suisse First Boston raised the target
price of VRTX to 20 from 16 this morning. The stock opened nearly 12% above
yesterday’s closing price, and it immediately began to pull back. Shortly before
10:00 AM, VRTX touched the rising 8-period EMA and formed a bullish tail. This
could be a potential reversal situation. I placed a buy stop just above this
bullish bar.
10:04:40 (from TradersWire)
Follow up on VRTX
It has hit our target. Sell half and move stop to breakeven.
10:29:32 (from TradersWire)
Follow up on VRTX (Pt 3)
Move stop to 13.19.
Feel free to mail me your
questions.
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