For those in the PT active long trade, please note that I have revised the targets to remove the previous 3rd and final target and making T2 the new final target. PT was a long setup that triggered an entry at 4.40 back on Aug 16th. Throughout the updates on this trade, I had stated that T2 was my preferred target and in reviewing the charts tonight, I have decided to suggested booking full profits there and will make T2 the final target.
The previous charts showed only the horizontal level for the targets as I started adding the numerical (dollar) target levels to the charts shortly after the last PT update based upon feedback received from many of you (thank you and please keep the comments coming as they really do help improve the site). That horizontal line sits at 5.70 but as I often state, I prefer to set my sell limit order on longs slightly below the resistance level to avoid missing a fill by a few cents as there are often clusters of sell orders right at or below resistance. Therefore, my suggested target for T2 would have been stated around 5.65, which was actually the high today. Since I don’t play the hindsight game, I won’t count this trade as completed yet even though PT actually hit 5.65 today. However, 5.65 remains the official target so this trade will be removed if & when that level is hit again going forward. This would provide a 28.4% gain from entry on the trade so consider tightening your stops now since the stock is likely to reverse from at or near current levels. Daily charts in order as posted. BTW- This revised final target also goes for the Long-Term Trade category trade/investment on PT as well as the more common Trade Ideas-Long category.
