After the expected pullback of R1 & the 200ema, the NAT (Nordic American Tankers Ltd) Growth & Income Trade idea continued higher to take out that resistance level recently on the next attempt which opens the door for a continued move up to T1 (see weekly chart from previous posts). Previous & updated charts in order as posted.
Although the NAT trade is now up 23% since the entry just over 2 weeks ago, this trade is a great example of using the charts to micro-manage a swing trade can enhance the returns on a trade. In the last update on Nordic American Tankers, it was highlighted that the stock had made a sharp run into resistance were a pullback was likely and that "active traders might opt to book partial or full profits if/as NAT approaches the 13.25 level, possibly recycling back in on a pullback off the initial tag of that level."
From there, the stock did exactly that, pulling back as draw out the the scenario (second chart below) and has since powered back up to impulsively break above that resistance level. That pullback of approximately 8% would have accounted for a roughly 16% boost to the trade had one reversed (long to short), covered on the dip & recycled back into the trade long. One could have also just booked partial or full profits at resistance and bought back in on the dip, still enhancing the total gains on the trade by 5-8% or so. To view the weekly chart or any previous notes on NAT, click on the symbol tag "NAT" at the bottom of this post. Additional price targets may still be added to this trade but at this time, T1 (the primary downtrend line on the weekly chart) remains the sole profit target.