NIHD was posted as a long entry on May 8th and I had stated that the price targets & suggested stop levels would follow. With the technology issues that I’ve been experiencing lately, I didn’t get a chance to follow up but I do think that right now is a good time to book some or even all profits on this trade, depending on your preferred time frame and trading style. NIHD was added as a long-term trade idea and will remain as one for now but the stock has gained 21% since the entry just over a week ago and has now hit the mid-range of that first support zone that I had listed on the previous daily chart.
That resistance zone (8.20-8.45), will be considered the first target so consider booking partial or full profits and/or raising your stop, depending on your trading plan. The next two target are those two horizontal lines shown on that previous chart as well as this updated chart (roughly 10.00 & 11.90) but I will add the exact suggested target levels as soon as I get caught up over the weekend or early next week. Again, I do believe that NIHD still holds the potential to be a nice longer-term trade but when you get 21% on a trade in less than 2 weeks while at a significant resistance level, it is prudent to book some or even all profits. Updated daily chart shown above.