WST - West Pharma holding Key Earnings Level Support - 9% upside
Target: 59+, +9%
Stop: <53 (approx 52.5), -4%
Reason: Oversold to "Key Earnings Level" that has held declines after the last three earnings reports.
Risk: Less than half of the upside potential.
Reward: Up to the last earnings release level at the 60 level.
With the S&P futures up strongly this morning and relief from a Chinese market rally despite terrible export numbers, market participants can see that the market is oversold and short covering is the game of the day. With the idea that we want to buy low risk long positions here OR go after heavily shorted names to go long, here's a safer one that is right on support that isn't looking UP big this morning.
Cheers.
Tim
9:18AM Tuesday Sept 8, 2015
Stop: <53 (approx 52.5), -4%
Reason: Oversold to "Key Earnings Level" that has held declines after the last three earnings reports.
Risk: Less than half of the upside potential.
Reward: Up to the last earnings release level at the 60 level.
With the S&P futures up strongly this morning and relief from a Chinese market rally despite terrible export numbers, market participants can see that the market is oversold and short covering is the game of the day. With the idea that we want to buy low risk long positions here OR go after heavily shorted names to go long, here's a safer one that is right on support that isn't looking UP big this morning.
Cheers.
Tim
9:18AM Tuesday Sept 8, 2015
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Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Penerbitan berkaitan
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.