QCOM Swing Traders have been rewarded with a 3+% gain; its now time to move stops up. Lets update the daily chart and stop strategy from our last update:
All classes of trader - swing trader or longer term break out player - should have stops now at break even or better.
Longer term players may wish to place their stops under the low of today's (still forming) bar ~ 66.28- 66.30. If QCOM and the market push higher on Monday, this should ensure this trade participates.
Aggressive traders wishing to lock in gains should QCOM reverse intraday will want to move their stops below the second-last consolidation zone at ~ 67.40.
Super aggressive traders wishing to lock in maximum gains on an intraday basis will want to move stops to ~ 67.66 in case QCOM fails to hold current levels - which may invite a failed test of the opening high.
04.04.02 15:20 #