Stock Selection Information
UPDATE: Cantor Fitzgerald Downgrades ValueClick to Hold Following 1Q Results
Benzinga's Top Downgrades
Had it´s earnings released yesterday, not as the market expected, but it was trading at a long term support level, had pre-market volume and trading below after-hours range.
Pre-Market Volume - 44%
Trading Plan - Go long if hold above 26.00
Management
Entry Setup used: First entry was based on a flag play that failed. Second entry was on a held bid @ 26.00.
Trading Comments
Tape reading helped to identify the held bid at the 26.00 level.
Also it was a good decision to take some risk off, as the flag play failed. Target for the trade was 27.00 but I got out before that for no reason (other than to take profits)
Also it was a good decision to take some risk off, as the flag play failed. Target for the trade was 27.00 but I got out before that for no reason (other than to take profits)
Evaluation
The entry was a good one, but I was not too happy about my exit. The plan was to hold for a target at 27.00, that would´ve been reached. Had to keep in mind to adjust stops instead of taking profits this fast.
Still it was a great trade. I had it under control and within my risk parameters for the day.
Still it was a great trade. I had it under control and within my risk parameters for the day.
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