MANH First Price Target Hit for a 3-week, 17% Gain

The MAHN (Manhattan Associates Inc.) short trade has hit the first price target, T1 at 57.10, for a 17% gain in exactly 3 weeks from entry. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. T2 (48.70) remains the final target. As the odds for a reaction off the T1 level are quite elevated, coupled with the fact that MANH has already fallen about half-way to the final target, it will remain an Active Trade but will be removed from the Short Trade Setups category as it no longer offers an objective entry at this point.

As always, there are several ways to utilize multiple price targets on a trade: Book partial or full profits at any of the earlier targets; lower stops (or use a trailing stop) as each target is hit to allow for the potential for additional gains; micro-manage the trades by reversing (long to short or short to long) off those target levels in which a reaction appears likely; etc... The strategy employed would depend on one's unique trading style, experience level and objectives.

Jan 11, 2016 12:55pm|Categories: Completed Trades - Short|Tags: |Comments Off on MANH First Price Target Hit for a 3-week, 17% Gain