Buy stop about 127.50.
Stop loss about 116.
+ IBD Top 50 stock.
+ Nice tight sideways channel too.
– Edit: Opps! Chart price label should be “backtest”, not “retest”.
Update 1 August 21
Stop loss moved up to about 131. Medium term CCI is pointing down and crossed below long term CCI.
Update 2 August 27
Will likely exit tomorrow morning.
Update 3 August 28
Stopped out 131.75 +3%
– Broke out of the rising trend line and short term EMA.
– All CCI’s seem to be rolling over.
Actually, shorting below today’s low with near today’s high a stop loss, is an okay reward : risk ratio. Initial target would be around 123.