Thursday, January 11, 2007

Day Trade: Long FMCN 30-min chart

Entry @ $75.25
Exit @ $76.30

  • The stock gapped up with above average volume and it also cleared a major resistance price point in the daily chart
  • Long entry at $75.25 on the break of the high of the 2nd cstick
  • Initial stop at $74.85 which is the low of the 2nd cstick
  • Sold 500 shares at $76.30 when the trailing stop was triggered
  • Trade closed with a gain of $525 ( +2.6R )

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