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KHC Stopped Out, New Unofficial Stop above 75

During the light-volume holiday trading session on Dec 23rd, KHC exceeded the suggested stop of a daily close above 73.10 & as such, will be moved to the Completed Trades category. For those who gave the trade a little more wiggle-room, the 75.00 level is well-defined resistance in which an objective stop-loss order could be place slightly above.

KHC was added as an Active Short Trade on Dec 11th at 70.02, providing a loss of 4.4% on the trade. At least one participant in the trading room is still short KHC and FWIW, I still think there is a good chance that KHC will fall to at least the T1 level in the coming weeks/months, with the next break of that uptrend line (NL) as the likely catalyst for a relative swift drop to that level.

KHC daily Jan 6th

KHC daily Jan 6th

Jan 6, 2016 2:55pm|Categories: Completed Trades - Short|Tags: |1 Comment

One Comment

  1. Profile gravatar of Padre
    Padre January 6, 2016 4:42 pm at 4:42 pm

    Randy, just wanted to let everyone know that next week is Options Expiration and the markets tend to go up quite a lot leading up to that Friday. You wrote about this phenomenon last year so I’m going to be extra watchful this time.

    0

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