This Is Why You Should Pay Attention To The Location Of A Tail
Cardinal Health (CAH)
gapped down and opened at 55.49. But, it staged an impressive
recovery rally. Thirty minutes later, CAH was trading at 58.67.
10:10:53 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Trget |
Current Price |
Posted By |
|
Sell |
CAH |
Short at the market |
pullback |
58.80 |
57.67 | 58.48 |
TK |
After forming six consecutive up
bars, CAH finally hit the 20-period EMA and shaped a bearish bar. Notice a long
upper tail. This was a warning signal. Immediately after the bearish tail, the
stock made the first down bar. We decided to short it at the market.
10:29:30
Adjust stop to 57.85.
10:32:15
It hit our adjusted stop. (+0.63)
T.Kamada
If you have questions, feel free to
mail them to me.
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