PAPER TRADE ONLY
Sell IT – $327.30
IT had a nice downward price action bounce this morning below yesterday’s opening price which is a $4 downside potential with a $8 upside.
Setting a buy limit at yesterday’s open gets a cost basis of 321.82, providing this paper trade with more upside potential. Resistance is at 329.46, however with range bound trading it’s best to set a sell limit under resistance and take the 1.7% gain of $548.00 for a 100-share lot.
IT still has all the oscillators in the green and upward trending 9 & 20 day moving averages. Some wing traders may have decided to stay in this trade; however, my preference is to take gains with a range bound strategy.
Sell SEDG – $303.07
Price action wicked down past support at the 9-day SMA and hit a buy limit followed by a price action rise to the top of the 3-day range where a sell limit was placed for a 1.79% share or $532.00 on a 100-share lot. With SEDG, we are seeing the 9-day SMA flatten out showing the slowing of upward price momentum. There is very little separation in the moving averages.
The charts are available for viewing in the stock watchlist channel.
This information is for educational purposes and not a recommendation to buy or sell a stock.
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