AMAG,ANSS,ANST,ASML,AZN,FMCN,HERO,IBN,IRM,JOSB,LOGI,MRK,NE,
PLL,RDC,SNDK,TKC,VOD,VRTX
Not much to write about today. Just a couple of trades.
VOD (gap down)
After the gap down, we consolidate before falling thru the OR. Candles 4 thru 7 test the OR from below confirmingit as resistance. The 7th is a red bar which has ema close by and tests the OR from below. This is our trigger.
Entry: 29.85 Stop:30.05
Fib Ext: 29.41
1R=29.65 2R=29.45 3R=29.25
The price drifts down slowly but doesn't really do much. The Fib Ext is nver reached and we close at end of day for small gain of around 1.5R.
SNDK (gap up)
The stock gaps up and has a strong first bar which takes it past the previous day's high. We have a brief look past the OR on 2nd candle before retracing. Support is found on the rising ema as we trend up again following the retracement. The 8th candle is strong green which breaks the OR and also closes strong. This is our trigger for a long.
Entry: 22.58 Stop: 22.22
Fib Ext: 22.89
1R=22.94 2R=23.30 3R=23.66
After entry the stock does nothing but sideways action. We close at end of day for a minor loss.
A very quiet end to the month today, which sums up the market for past week or so. From my watchlist VRTX and PLL were the big movers, but I just couldn't get an entry that I was happy with. That's just the way it goes sometimes.
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