Upon further review of the charts, I have decided to book the quick 6½% profit on my BIZD (BDC Income ETF) swing trade with a new first price target added here at current levels (~14.35) with the previous two targets now re-sequenced as T2 & T3. Previous & updated daily charts below.
BIZD daily Oct 13th
BIZD daily Oct 15th
While I can easily see BIZD continuing higher to those two initial price targets, especially if the stock market is able to take out last week’s bearish engulfing candlesticks, I figure that the bulk of the “easy” gains on BDC have been made, as it has already climbed halfway to the final price target. For those holding out for either or both of those original price targets (now T2 & T3), consider raising stops to at least breakeven or higher, to protect profits.