PT daily Jan 22nd close
I have decided to set the official price target on yesterday’s PT (Portugal Telecom) Long at 1.14 (T1) with additional potential targets, T2 at 1.25 & T3 at 1.52, to be added depending on how PT trades going forward.
T1, the current preferred & final target, is set slightly below the top of the Dec 29th gap although an optional, higher probability exit point would be to set your sell limit order slightly below the bottom of that gap which comes in at 1.13.
Another option that might help extend gains on this trade would be to set a relatively tight trailing stop (~0.05) below PT once/if the stock approaches the 1.13 level while targeting either T2 or T3. Unless stated otherwise beforehand, PT will be considered a completed trade if/when T1 is hit.