Company reported better than expected results, and they raised guidance, so my thought is to go long, however, I need to be careful as there are plenty of resistance areas on the sight. The stock is opening +2.75% (My previous resistance levels (now support I guess) are 120.50-121.00. I want to watch the behavior closely for a gap & go play to the 122 with authority.
Review
The stock has been consolidating in a bull flag type pattern, however, I decided to close the trade as I do not see it can pass above 121.50. Every time it reaches 121.50 it fails. I closed it as I do not want to give my money back in a quick sell off.
Time will tell. I will review at the end of the day
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-04-16 09:37:01 | UNH | buy | $120.840 | long |
2015-04-16 11:20:28 | UNH | sell | $121.340 | 0 |
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