Potential outside week and bearish potential for TLX

7 giu

Entry conditions:
(i) lower share price for TLX below the level of the potential outside week noted on 2nd June (i.e.: below the level of $24.91).

Stop loss for the trade would be:
(i) above the high of the outside week on 5th June (i.e.: above $27.40), should the trade activate.

Important note for the trade:
- Observe market reaction at two key areas illustrated in the chart above, should the trade activate ($24.79 and $24.47), which could act as support against the short trade.

15 giu

Trade attivo

UPDATE (week ending 13-Jun): We'll list this as a 'cautious activation' since a share price lower than the activation point occurred, however as also stated in the entry conditions above, it appears as though the levels of $24.79 and $24.47 may be potentially interfering with the trade and acting as support. Watch and observe with caution, especially for any trader who may have taken a short position here. In the event of a sharp reversal, consider tightening stops to a level above a previous resistance level such as $26.46 from the open of 28th May.

21 giu

Nota

UPDATE (week ending 20-Jun): The 'cautious activation' continues as the share price whilst the daily chart shows indecision with formation of a higher high even though the share price closed below declining 10 and 30 day MA's at the end of the trading week. Interesting to note that the tightened stop above the previous resistance level of $26.46 currently remains intact whilst the support levels of $24.79 and $24.47 remain stubborn.

28 giu

Nota

UPDATE (week ending 27-Jun): Respect of the declining 10 day MA continued throughout the week, with the share price closing below both support levels of interest at the end of the trading week. The charts are suggesting a lowering of the stop loss to a level above a recent swing high formed on 19th June (i.e.: slightly above $26.09) in order to minimise risk compared to the initial risk taken when initiating the trade.

7 giorni fa

Nota

UPDATE (week ending 04-Jul): Respect of the declining 10 day MA continued throughout the week, with the share price closing below both support levels of interest at the end of the trading week. The charts are suggesting a lowering of the stop loss to a level above a recent swing high formed on 27th June (i.e.: slightly above $25.27) in order to minimise risk compared to the initial risk taken when initiating the trade.

20 ore fa

Trade chiuso: stop raggiunto

UPDATE (week ending 11-Jul): As can be the case with shorting pharma stocks, an announcement can cause a sudden surge in share price, which is what occurred on Wednesday of this week. For anyone who was in the trade and had taken on the consideration of lowering the stop loss to a level above the recent swing high, this would've stopped those positions out, which would've been the intention, even though it appears as though the trend COULD be continuing towards the downside once more ever since. No matter - best taking a small scratch than a hefty loss should the bullish trades have continued against the position. Risk management is always the best way of dealing with these circumstances. And, of course, never hurts taking some small profits along the way too, eh?