• rxstocktrading

Post Trade Analysis

ALGN : We initiated this trade as a full position as it was breaking out of a tight consolidation on volume. Looking back the move was still premature as it took two weeks before truly breaking out. We had the patience with this name as it never hit our stop level. Once it reached a resistance area we took off 1/2 of the position at $648.03 for a 4.3% gain. Once I saw that we failed to breakout at this major resistance level I decided to take the rest of the position off for a 3.2% gain. Looking back this was a good trade considering the fact that this was a very slow mover. And after the day we sold it the stock went down all the way to $589.24. This was also close to earnings which we do not want to risk unless we have a huge cushion in. This is actually setting up once again and it is definitely on my watchlist.

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