The stock had a strong day on a on Friday closing inside the R680 - R792 breaking out of the bull flag. I wanted to enter the trade on the break. However the stock ran away from me, I was going to add into the position as it moves to the R680 - R792 box. I’m going to take the trade market open on Monday.
Trade mechanics
Account balance :R7232
2% maximum risk: R144.64
Entry: R680.4
Stop loss: R615.54
Risk per share: R64.86
Quantity: R144.64 / R16.07 = 2.2
Trade mechanics
Account balance :R7232
2% maximum risk: R144.64
Entry: R680.4
Stop loss: R615.54
Risk per share: R64.86
Quantity: R144.64 / R16.07 = 2.2
Note
We had a close above R674 in was seems to have been a false break. I’ve added to the position. Now waiting for a close above R680, to move my stop loss. Looks like the stock is having a tough time breaking the R680 resistancePosition update
Average Entry: R645.8
Quantity: 7.8
Stop loss: R630.18 (-R15.02 risk per share)
Profit/Loss if stop is hit: -R117.16 (-1.58%)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.