Here is the 4-hour chart of Portfolio Recovery Associates Inc. goo.gl/xXAYwl
Why I'd go long:
1. Key round number ($50).
2. Found support before (July and August).
3. Support confirmation on the 4-hour chart with bullish candlestick.
4. Volume increase.
5. Bounce off the lower band of the downward trending channel.
If I bought at $52 and set a stop loss of $2 per share, I'd sell 70% of my position at $54 for a 1:1 risk/reward ratio trade. I'd move the stop loss to breakeven point and would be looking to close 20% of the position 10 dollars higher. That would leave out 10% of my position for long-term gains.
Will you be trading PRAA during holidays?
Why I'd go long:
1. Key round number ($50).
2. Found support before (July and August).
3. Support confirmation on the 4-hour chart with bullish candlestick.
4. Volume increase.
5. Bounce off the lower band of the downward trending channel.
If I bought at $52 and set a stop loss of $2 per share, I'd sell 70% of my position at $54 for a 1:1 risk/reward ratio trade. I'd move the stop loss to breakeven point and would be looking to close 20% of the position 10 dollars higher. That would leave out 10% of my position for long-term gains.
Will you be trading PRAA during holidays?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.