Pages

Saturday, December 24, 2016

New signals 24-12-2016 $JWN $RHT

Happy Holidays everyone,

The last few days were pretty quiet, I guess most traders on Wall St. are already on their holidays.

There are two new Sell signals for the next trading session:

$JWN (Nordstrom Inc) as you probably have already noticed, retailers were hit pretty hard lately, as much of the retail shopping in the holidays is going online.
$JWN's last closing price was $48.75, as of December 23rd.
I would enter a Short position at the next trading session with a stop-loss at $49.99 (risk: 3.7%) and price target at around $45 (reward: 6.9%). A nice risk: reward ratio of 1.9.



$RHT (Red Hat Inc)
Is just technically broken after its gap-down of some 11%.
Would not touch it in the near-term. Some lower prices are possible, and according to Fib retracement the next drop could take it 65.69. If I would enter a Short position in the next trading session I would definitely place a stop-loss at the 50% Fib retracement of $71.99.


To see general results of the algorithm click here.
Check out my Essential Reading List here (I may receive some compensation if you purchase anything on Amazon following my links)

TK

Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my About page for a full disclaimer.

No comments:

Post a Comment