CCU daily May 18th
CCU (Compania Cervercerias) hit the final target, T4 at 23.70, for a 21% gain on Thursday. Consider booking full profits as the odds for a substantial correction or lasting trend reversal is quite elevated at this time.
Final targets are set where the R/R no longer warrants remaining in the trade and in many instances, the trade ideas on RSOTC experience lasting trend reversals upon reaching the final target (and can often be reversed from long to short or short to long).
In this case, CCU also had put in place strong negative (bearish) divergences on both the MACD & RSI when the final target was hit on Thursday, further adding to the case for a substantial reversal in the stock.
To those signed up to receive email notifications, please note: In advance of leaving town tomorrow evening, I plan to update the trade ideas categories. As there are numerous updates to be made (e.g.- trade setups such as the recent JO which triggered a long entry today; several stopped out trades; and trades reaching their final target such as CCU), email notifications will be only be sent on time sensitive trades in order to reduce inbox clutter. I will notify subscribers when the updates to all trade categories has been completed.