Long or Short: Long
Entry Range: $72.75-73.25
Reason for Trade: Call me a sucker perhaps, but I'd say this is third time in the last month that I've traded this stock. At this point, I'm 1 for 2 trading the stock profitably, so if I'm successful trading this stock this time, I'll have a much better track record with this company.
This stock is trading very similar to the pattern we saw in VRX last week that I went long on and profited from. I'm a big fan of these longer-term bullish flag patterns, and also appreciate the increasing volume over the past week of trading.
Favorable reward-to-risk setup with a +2:1.
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>
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